Yesterday, news broke out that there will be weekly livestreams featuring Elon Musk and Vivek Ramaswamy, where they discuss recent developments in the Department of Energy (D.O.G.E.).
Of course, almost immediately, tokens on both Ethereum and Solana’s ecosystem were created with the same name.
We will be focusing mostly on the one on Ethereum since in this ecosystem there are more PolitFi traders who can drive the price up.
Is Dogecast the Next Big Meme Coin?
Current market cap of Dogecast on this network is around $7 million and this could potentially go much higher, especially when Elon starts tweeting about it.
He actually already confirmed 2 days ago that there will be weekly updates about DOGE. However, he still needs to use the actual word “Dogecast” and this could go bananas.
A lot will also depend on how frequently Elon discusses this topic and when the podcast actually launches. According to reports, it’s starting “soon,” and once the official date is announced, it could potentially benefit the price as traders will have a specific date to focus on. This kind of concrete timeline often creates anticipation in the market.
Of course, note that this is a new meme coin that relies mostly only on a narrative that could be hot in the upcoming days but it also depends on their CTO and team. If they decide to rug pull, it can easily go to 0.
However, if they don’t do that and narrative stays hot, we are potentially looking at $50 million market cap or even $100+. Remains to be seen in any case.
Read also: Why Is Algorand (ALGO) Price Up? Analyst Predicts a 300% Rally
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