Dogecoin Price Prediction as DOGE Rallies Up 9% in 24 Hours – Here's Where DOGE is Headed in 2023

cryptonews.com:

The dogecoin price has now rallied by 9% in the past seven days, pushed up by reports that Twitter is moving ahead with its plans to introduce payments. At $0.091703, it has dipped by 1% in the past 24 hours, although it rose by well over 10% between Monday and Tuesday, with the coin also up by 30% in the last 30 days.

DOGE's rally follows Monday's publication of an article in the Financial Times, in which the paper reported that Twitter owner Elon Musk has begun accelerating the social network's payment plans. This has resulted in a big surge of buying activity, including by whales, yet the fact remains that recent reports on Twitter's payment strategy have made no explicit mention of dogecoin itself.

DOGE's indicators suggest that the altcoin likely still has some rallying left to do. Its 30-day moving average (red) overtook its 200-day average (blue) earlier in January, and it continues to rise above the longer term indicator, signalling the possibility of further rises.

In addition, DOGE's relative strength index (purple) remains above 60. This is a good position insofar as it signals some degree of positive buying pressure, while also indicating that the coin isn't overbought, so has some more room to rise further.

The main catalyst for dogecoin's performance over the past couple of days is the aforementioned Financial Times article. Perhaps its most notable revelation was that Twitter has already begun applying for regulatory licenses across the US, something which highlights just how advanced its plans for payments currently are.

While the report indicates that Twitter will initially roll out its payment services only with fiat currency (or currencies), it's desiging them "so that crypto functionality could potentially