XDoge Coin Rides The Musk Train To 100% Gain. Can It Last?

Updated: 25 July 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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On July 25, XDoge (XD) has demonstrated significant market progress, soaring over 100% in value within the past 24 hours.

XDoge’s price has experienced remarkable growth, standing at $0.000000001391 at 5:05 am EST, indicating a 144.60% increase in the past day and a surge of over 191% in the last seven days.

Despite the asset’s price resurgence, its trading volume remains low at $708,000 with no significant change.

XDoge’s Price Encounters Sell Point On Daily Price Chart

XDoge’s price currently sits below the 200-day simple moving average, indicating a long-term bearish signal. Meanwhile, the RSI indicator is neutral at 56.91, but showing an upward trend, hinting that the asset price may rise as it nears the overbought region around 70.

The MACD line, positioned slightly above the signal line, indicates a potential bullish trend, while the green histogram bars further suggest the likelihood of more rallies in the coming hours.

Possible Factors That Could Affect XDoge’s Price

The XDoge price, like other altcoins, is influenced by factors such as the overall crypto market updates, Bitcoin’s price trend, and the token’s total supply.

XDoge’s price is sensitive to shifts in the broader crypto market, exemplified by the potential influence of events like the SEC-Ripple lawsuit ruling favoring Ripple Labs. Such developments can significantly influence market sentiment, thus affecting the prices of cryptocurrencies like XDoge.

Bitcoin’s performance remains crucial in influencing the overall crypto market trend, and events like the approval of Bitcoin Exchange-Traded Funds (ETFs) can boost its price and impact altcoins like XDoge, causing significant price movements in response to investor sentiment.

XDoge boasts a total supply exceeding 420 trillion tokens, potentially affecting its price negatively with the abundance. Yet, burning mechanisms may come into play to reduce the token supply and boost its market value.

Mr. Hankey (HANKEY) As an Alternative Asset

Mr. Hankey token (HANKEY) is a meme token created to profit from the crypto industry. It focuses on the crypto market (crypto septic tank) just as plumbers earn money fixing the sewage system.

Mr. Hankey draws inspiration from the popular American TV series, South Park, also called the “Christmas Poo.” Information from the project’s website portrays HANKEY as the number one shit coin which outshines its counterparts.

The team at Mr. Hankey needs meme lovers who will remain optimistic as it works with its crappy tools in the crypto sewage system to make something smelly come out (profit-making).

The founders believe that the token will drive a tremendous return on investment. They call for collaboration with investors to make the asset a whirlwind in the crypto market.