“Dogecoin could become part of Elon Musk’s new payment system,” – such rumors fueled the cryptocurrency’s surge to $0.48 on November 23, 2024. Over the past month, the coin’s value increased by 219%, with trading volumes exceeding $15.4 billion in a single day. This secured Dogecoin’s position as the third most popular cryptocurrency.

Analysts predict further growth. “If Dogecoin breaks the $0.73 resistance level, its price could rise to $1.25,” said Javon Marks. Other forecasts suggest long-term targets of $2.90–3.60. However, within days, the coin’s price dropped back to $0.41, mirroring the market’s dynamics. Bitcoin, for instance, fell from a record $99,645 to $96,725.

Meme coins like BRETT, PEPE, and FLOKI also lost more than 10% in a day. Volatility risks persist, but investors are focusing on Dogecoin’s potential to become part of Musk’s “X Payments” ecosystem.

Experts believe that Musk’s association adds credibility to the coin. If the “X Payments” system is launched, it could ensure Dogecoin’s long-term success.