Musk caught the attention of meme stock and crypto traders earlier this week when he took out a roughly 9% stake in Twitter. Following that, he also joined the social media company’s board of directors as its largest shareholder.
If you’re wondering why Dogecoin is reacting to news of Musk joining Twitter’s Board, the first thing to know is that Musk has previously mentioned the crypto in tweets. Musk has stood by Dogecoin for a long time, even serving as an advisor to its developers.
With that in mind, it makes sense that any positive news surrounding the Tesla (NASDAQ:TSLA) CEO could affect DOGE prices. The crypto initially jumped on the TWTR stock news but has been slipping since. Let’s see where experts expect it to head in the next year.
Dogecoin Price Predictions
- Gov Capital starts us off with a bullish price prediction of .223 cents for Dogecoin one year from now.
- WalletInvestor is up next with the publication predicting a price of .283 cents per coin in a year’s time.
- DigitalCoinPrice has the weakest price prediction for Dogecoin with it expecting the coin to trade at 21 cents in 2023.
DOGE is down 13.6% over a 24-hour period as of Wednesday afternoon.
Crypto traders on the lookout for more news are in luck!
InvestorPlace has all the crypto news they need to know about with our daily coverage of the space. For Wednesday, that includes what’s happening with Mobiquity Technologies (NASDAQ:MOBQ) stock, Terra (LUNA-USD) price predictions, as well as a list of cryptos for speculators to watch. You can find all of this news at the following links!
More Crypto News for Wednesday
- Why Mobiquity Technologies (MOBQ) Stock Is Up Today?
- Terra (Luna) Price Predictions: Where Will the LUNA Crypto Go After Hitting New All-Time High?
- 7 Cryptos to Buy for Speculators as Interest Rises in the Blockchain Space
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.