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Dogecoin Price Soars: Traders Await Elon Musk’s Next Move

• Dogecoin’s trading volume was at its highest in sixteen weeks, with the coin price also rising by 8.26%.
• Elon Musk rebranding Twitter to X sparked speculation if DOGE was still in his plans.
• Santiment data showed that the weighted sentiment between 17 and 24 July has been increasing.

Dogecoin Volume Reaches 16-Week High

Dogecoin [DOGE]’s trading volume rose to its highest level in the last sixteen weeks, data from Santiment revealed. The coin price followed in the same direction and increased by 8.26% in the last 24 hours. This suggests increasing momentum and potential to maintain the hike.

Elon Musk Renames Twitter

The recent news of Elon Musk rebranding Twitter to X sparked speculation if Dogecoin was still in his plans for investments or endorsements. Pseudonymous crypto trader CryptoKaleo opined that DOGE could be integrated with Twitter in a few weeks, although nothing has been confirmed yet.

Weighted Sentiment Increases

Santiment data showed that Dogecoin’s weighted sentiment between 17th and 24th July had been steadily increasing over time, suggesting a switch from pessimistic to optimistic sentiment among traders about DOGE’s prospects going forward.

Traders Await More Clarity on Integration

Although it is uncertain how exactly Elon Musk will integrate Dogecoin into Twitter, traders are awaiting more clarity on this before making any decisions regarding investing or endorsement of the coin. Furthermore, analysts have noted that if DOGE cools off from its current surge then there is potential for further increases soon after as well.


Dogecoin’s trading volume and coin price have both been steadily increasing recently, indicating increased momentum and optimism among traders about its future prospects following Elon Musk’s renaming of Twitter to X and speculation of an integration with Dogecoin in the near future .