Has Elon Musk Forgotten About Dogecoin (DOGE)?

The post Has Elon Musk Forgotten About Dogecoin (DOGE)? appeared first on Coinpedia Fintech News

Particularly for Dogecoin (DOGE), Elon Musk, the billionaire entrepreneur CEO of Tesla and SpaceX, has been among the most influential players in the bitcoin scene. Often sending DOGE’s price skyrocketing, his tweets and public sponsorships have helped to establish him as the unofficial meme coin ambassador. Musk has recently been noticeably silent about Dogecoin, prompting several questions about whether Elon Musk missed DOGE.

The Current State of Dogecoin (DOGE)

With a worth of $25.24 billion and 8th place in market capitalization, Dogecoin has remained a major participant in the crypto scene. DOGE looks relatively steady at its price of $0.16989 and a 24-hour trading volume of $3.86 million. Nonetheless, investors wonder whether Musk’s silence from the dialogue has had any bearing on the coin’s current inertia.

Technical markers present a mixed picture. A Relative Strength Index (RSI) of 43.54 DOGE shows a neutral to positive market attitude. Meanwhile, the average directional index (ADX) of 39.99 indicates that the coin maintains strong directional movement. 

The Parabolic SAR points to a bullish setup; the 50-day Simple Moving Average (SMA) of $0.1689 supports an upward trend. However, without Musk’s signature sponsorships, investors are forced to rely more on market trends than on the social media-driven spikes that have distinguished DOGE historically.

Musk’s Influence on Dogecoin’s Price

Musk’s interaction with Dogecoin has been absolutely a rollercoaster. His tweets, usually as essential as a single word like “Doge” or a meme referencing the coin, have caused unexpected price surges over the years. Driven chiefly by his public endorsement and acceptance as payment for some Tesla goods, DOGE achieved an all-time high of $0.73 in 2021, reflecting his influence at its peak.

Musk’s focus has lately turned to other endeavors, including his acquisition and rebranding of Twitter into X. SpaceX and Tesla remain top concerns, which limits his attention on DOGE. Musk’s quiet on the matter currently signals that he may have deprioritized it in his expanding portfolio of interests, unlike in past times when he would periodically hint at future usage cases for Dogecoin.

Pushing Dogecoin into widespread acceptance is still a continuous endeavor. Developers have been working on enhancements to increase the blockchain’s scalability and efficiency. Some companies still let DOGE be paid for, therefore preserving its usefulness. For many, though, Dogecoin’s attraction has always been its cultural reputation as the “people’s crypto,” with Musk central in that identification.

DOGE would find it difficult to recreate the explosive rallies it previously knew without his ongoing support. Although Musk’s social media influence has mainly shaped Dogecoin’s path, a new competitor, Rexas Finance (RXS), demonstrates that a cryptocurrency can explode solely on its practical use cases rather than celebrity sponsorship.

With everyone, anywhere, able to tokenize and trade real-world assets easily, RXS is a revolutionary Real-World Asset (RWA) token that is changing the financial scene.

A New Era: Rexas Finance (RXS) Surging Without Celebrity Influence

With its presale bringing about $47.62 million as it approaches the completion of its last stage, Rexas Finance has already shown fantastic expansion. Originally priced at $0.20 and already 91.62% full, RXS is expected to launch for $0.25.

Unlike many crypto companies depending on venture capital money, Rexas Finance lets ordinary investors participate in its journey by keeping its revolution under public control. Already reaching notable benchmarks, the cryptocurrency is listed on CoinMarketCap and CoinGecko, enhancing investor confidence. For long-term holders, a Certik audit has also confirmed the project’s validity and security, guiding their choice.

RXS has jumped by more than 500% since its first presale stage; prominent analysts estimate that its price could rise to $20, reflecting a 100x return. Increasing demand and a clear use case drive this remarkable trajectory, demonstrating that a coin does not require the tweet of a billionaire to thrive.

The Future: DOGE vs. RXS

While Dogecoin is still highly valued in the crypto scene, its reliance on Musk’s influence raises questions about its long-term survival. If Musk remains mute, DOGE might find it difficult to recapture the impetus it once possessed. Conversely, Rexas Finance (RXS) follows a road to success based on principles, utility, and natural demand instead of celebrity-driven marketing.

For those considering the next great chance, RXS presents a strong argument as the coin with actual staying power. Unlike Dogecoin, which suffers uncertainty because of Musk’s silence, Rexas Finance is flourishing just on its strong foundations and innovative application case.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance