The most popular meme cryptocurrency has returned to $0.31, according to David Gokhshtein, who adds that it has nothing to do with Elon Musk's statements.
DOGE, the eighth-ranked cryptocurrency and the community's most popular meme cryptocurrency, has reclaimed the $0.31 level, trading at $0.3174 at press time.
The coin retook $0.31 for the second time today, after first doing so the day before. Elon Musk, the Tesla and SpaceX CEO and the most powerful Dogecoin supporter on the planet, did not tweet a single time during the increase, according to cryptocurrency influencer David Gokhshtein. Musk may also become the most powerful Dogecoin supporter on Mars in the future.
DOGE is back to $0.31.
PAC Protocol CEO David Gokhshtein took to Twitter to discuss Doge, saying that the company has increased gains without Elon Musk's help and explaining why the meme coin's "game has changed."
Dogecoin, he believes, has a good use case, a strong community, and is now "doing what a cryptocurrency is supposed to do"—releasing upgrades to cut transaction fees and attempting to gain greater popularity on Twitter.
"Dogecoin appears to be poised to float back to $0.35"
Dogecoin is developing a Falling Wedge pattern, which is generally a reversal and may indicate the coin is about to go higher, according to prominent crypto analyst and trader Scott Melker.
The aim, according to Melker, may be $0.35.
Elon Musk is pleased with the DOGE update and the prospect of lower fees in the future.
The 1.14.4 update for Dogecoin was launched on August 21, enabling the imminent and long-awaited fee reduction, speedier transactions, and other fundamental enhancements that might drive the coin's price significantly up in the future.
Elon Musk replied to the tweet announcing the update, stating that "excellent progress" had been made. Tesla CEO Elon Musk is hard at work with Dogecoin developers to increase "transaction efficiency."
Progress is being made. Lower fees minimize noise, and faster and more regular sync times improve latency and jitter, according to information theory applied to currency (which is just information).
Currently, the DOGE community is hoping to work with Twitter to make payments. CEO Jack Dorsey recently revealed that the team behind the social media network is working on a Tip Jar feature that would allow users to give each other Bitcoin tips.
Investors in Dogecoin are hoping to attract Dorsey's attention and urge him to integrate DOGE in the new functionality.
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