Elon Musk is the owner and most followed account on Twitter, but he has also been a long-time supporter of Dogecoin (DOGE). In fact, the meme coins price history has long been intertwined with the controversial billionaire’s business practices.
The biggest pump in recent times Dogecoin has enjoyed was after Musk suggested that DOGE could be accepted as a payment method for Twitter. So, although the number one meme coin has been suffering through a poor performance period, there is still hope out there. In fact, there are predictions going around that in the future, $100 dollar worth of DOGE will be enough to secure an investor millionaire status.
Now this is a very ambitious prediction, and we are not saying it will come true. However, there is still hope that DOGE can hit $1, and due to its current woes if you were to invest in it now and it did climb during the next bull run, it would set up well on your way to millionaire status.
Can Investing in DOGE Make You a Millionaire?
Let’s be honest here, the likely answer is no. However, you could still see a huge profit if you do invest in Dogecoin (DOGE) now and the price bounces back. Below you can see the chart for the last 30 days of DOGE’s price history. The big drop is after the SEC announced a lawsuit against Binance and Coinbase, which both list the meme coin.
So things are not looking good at the moment, but that doesn’t mean that it will stay like this forever. The problem for the Dogecoin project is that there are new meme coins on the way up now that are a real threat to the project’s status.
A lot of these projects have had time to examine every step that projects like DOGE and SHIB have made and learned how to both replicate their success and not make the same mistakes. The attention on the meme coin market all seems to be directed at these coins rather than at the traditional giants.
The hope for DOGE is that investors are just interested in the new shiny toys because, for so long, there weren’t any other good alternative options. If you believe DOGE will hit $1, your hope is in the huge community the meme coin has built up over the years. The Twitter account, for example, has over 3.8 million followers.
These dwarf most other crypto projects, let alone meme coins. So, the potential is there, and if you are a believer, then this represents a perfect buy-low opportunity if it pumps to $1, you will make the most on your investment. It may not be millionaire status, but it will be a good step in that direction.
For DOGE doubters, though, there is a new meme coin on the block that represents a major threat to its position. Many experts have already drawn the link between the downfall of the meme coins’ number one crypto and the coming up for this new meme coins presale.
Wall Street Memes – Could This Be the Next Big Meme Coin?
We mentioned that the new meme coin projects have been bringing something else to the table. This has mostly utility and long-term project security. What this was a reaction to was all the meme coin projects that fail due to any long-term perspectives.
As Dogecoin is the original and number one meme coin, these projects didn’t represent a direct threat. While yes, it could be damaging to have other meme coin projects take away potential investors, these coins would likely operate in a different sphere of the meme coin market and would not directly affect Dogecoin’s place as the number one meme coin.
The arrival of Wall Street Memes ($WSM), however, is a much different story. This is really the first meme coin project we have seen that has a legitimate claim that it will one day topple DOGE. The reasoning for this? Wall Street Memes comes with a ready-built community that already has a huge amount of sway in the online crypto community despite the presale only being three weeks old. Find out how to buy Wall Street Memes here.
This presale has already raised $7 million in this small time-frame, but this is a shock to no one that already knows the brand. They are one of the strongest online crypto platforms boasting over 1 million followers across its various platforms. Their legitimacy as a hub for crypto is reinforced by the fact that they are followed by lots of influential crypto accounts like Magic Eden and Cameron Fous.
As if this wasn’t enough to scare Dogecoin backers, AI technology also seems to be on the side of Wall Street Memes. Google has recently released its new AI chatbot called Bard AI. Crypto users have become obsessed with using AI chatbots like ChatGPT to help them with crypto prediction. Google’s is even better than ChatGPTs as it gives you a crypto prediction with no restrictions, unlike its competitor.
When asked to make a prediction for how Wall Street Memes would perform in 2023, Bard had the ambitious projection that the meme coin could pump by 352% from its original presale price. Even the most conservative amongst us can only look at this as a positive for $WSM and a negative for DOGE backers.
While it is still early days for the new meme coin, there does seem to be something special brewing. For those of us in the business, we cannot wait for the listings to begin. If Dogecoin continues to tank up until that point of the #WSM listings, we could be in for a changing of the guard. Watch this space.
The DOGE $100 dollar to millionaire status may be a rocky road from where we stand at the moment. That is not to say that the Dogecoin project is dead, far from it. It could be a great buy-low spot. However, looking at the come-up of Wall Street Memes should put fear in any Dogecoin backer. We cannot for sure say what will happen in the future, but there could soon be another possessor of the king of meme coins title.