Elon Musk’s Dogecoin Posts and Foundation’s Big Plans Soar Dogecoin Price

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Dogecoin, the famous meme-based cryptocurrency, is making waves again with two big developments. On one hand, Elon Musk’s posts about DOGE are sparking discussions about market influence, while the Dogecoin Foundation is rolling out initiatives to enhance mass adoption. 

Musk’s Tweets: Coincidence or Intentional Boost?

Elon Musk, known for his playful tweets, recently posted a meme referencing Dogecoin (or “D.O.G.E.” as his Department of Government Efficiency). Shortly after the post, Dogecoin’s price briefly surged to $0.43, raising questions about whether Musk was trying to boost its value.

This isn’t the first time Musk’s posts have impacted DOGE. His tweets have caused noticeable price jumps in the past, though these gains often don’t last long. 

Elon Musk literally named a government department ’DOGE’ so he can shitpost about it again whenever he wants without getting in trouble

Fucking legend! https://t.co/PWKOf83IpF

— Sir Doge of the Coin (@dogeofficialceo) November 25, 2024

Critics and fans alike wonder: Is Musk subtly signaling to Dogecoin traders, or are these just innocent memes?

The timing of Musk’s posts is particularly interesting. A class-action lawsuit accusing him of manipulating Dogecoin’s price was recently dropped. Some believe Musk’s consistent mentions of DOGE, whether as a joke or about the government acronym, could be a clever way to keep the coin in the spotlight without crossing legal lines.

Dogecoin Foundation’s Push for Adoption

While Musk keeps Dogecoin in the headlines, the Dogecoin Foundation is focused on real progress. They recently announced plans for Dogebox, a decentralized payment system designed to help small and medium-sized businesses accept Dogecoin directly.

Dogebox aims to create an ecosystem where businesses can integrate Dogecoin into their payment systems, node operators can facilitate transactions, and everyone benefits.

Meanwhile, this initiative is part of the Foundation’s broader roadmap, which includes three main goals, expanding the Dogecoin developer community, making it easier for businesses to adopt DOGE, and scaling the blockchain to handle global payments.

The Foundation has already completed most of its first two goals, but the final step of scaling Dogecoin to meet global demands still requires work. 

For this, the Dogecoin Foundation is seeking funding to strengthen its community and support future network development.

In a recent post on X, the Foundation shared plans to attract key sponsors by 2025 to promote the widespread adoption of Dogecoin.

What’s Next for Dogecoin?

Dogecoin price has recently surged over 200%, climbing above the $0.40 mark with a weekly gain of 16%. However, looking at the chart analysis experts believe that Dogecoin appears to have established $0.40 as a support level.

With this momentum, analysts suggest Dogecoin could potentially hit $1 in the coming weeks. However, they also caution about a possible pullback, predicting the price may drop to $0.30 before surging to $3.