Dogecoin regained its bullish momentum over the weekend, sparking reactions from founder Shibetoshi Nakamoto and other prominent enthusiasts.
Billy Marcus, aka Shibetoshi Nakamoto, praised Dogecoin’s price hike on X (formerly Twitter). “Hello Queen”, Software Engineer tweeted on friday.
hello queen pic.twitter.com/kRI7gZgN7K
— Shibetoshi Nakamoto (@BillyM2k) January 3, 2025
For context, dogecoin The stock closed the day with a hefty 12.30% gain, marking the highest daily gain since November 11th, when prices rose 27%. Furthermore, the dog-themed meme coin ended the week with an impressive 21.5% gain, closing at $0.3825.
Founder talks about Dogecoin chips
Interestingly, Shibetoshi Nakamoto discussed using Dogecoin as a toss currency on platforms like X. founder He said it was “cool” to use meme coins in that regard, although he did not create them for that purpose.
For context, tipping is a peer-to-peer means by which users can share small amounts of value. Macro payment systems can be from the community to creators or between creators, but their sole purpose is to reward goodwill.
Meanwhile, Marcus responded to inquiries from community members. user asked a question Whether Dogecoin's purpose at the time of its creation was to function as a tipping currency on the platform.
Marcus calls for 500% excitement
in parallel Tweetthe founder was seen seeking further upside for the dog-themed meme coin. Shibetoshi Nakamoto said he could buy a house if Dogecoin rose another 500%.
In particular, a 500% increase from the current market price would see Dogecoin trading for around $2.3000. The price increase will push the market cap to more than $340 billion, about $100 billion less than Ethereum's current valuation.
Meanwhile, the analysis supports the feasibility of this ambitious price target. According to Javon Marks, Dogecoin I was able to achieve it If it rises to the 1.618 Fibonacci level like in 2021, it will be $2.2800.
Meanwhile, the largest meme coin by market capitalization is trading at $0.3848, up just 1% in the past 24 hours.
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