Popular Crypto Analyst Predicts ‘Explosive' Rally for Cosmos ($ATOM) and Dogecoin ($DOGE)

A popular cryptocurrency analyst has recited the prices of Cosmos ($ATOM) and meme-inspired cryptocurrency Dogecoin ($DOGE) could undergo an “explosive” rally in the near future as interest in altcoins recovers.

Timeline of Cosmos, Dogecoin

Dogecoin has declined by around 6% over the last 24 hours, as data shows signs of dumping from the whales. Dogecoin Whale Deposits To Exchanges Spotted On The Chain As per data from the crypto transaction tracker service Whale Alert, there have been some large DOGE movements during the last day.

Recently, BitGo, which works with clients, partners, and regulators to “deliver innovative security, custody, and liquidity solutions”, introduced a new cryptocurrency that should be of great interest to $DOGE holders: Wrapped Dogecoin (wDoge) on Ethereum.

Dogecoin price had received immense attention in recent times as Elon Musk acquired Twitter and completed the $44 billion deal. While many speculated that the asset may also be included as one of the payment options along with other cryptos, the DOGE price gained huge bullish momentum.

After the widely publicized purchase of Twitter (NYSE: TWTR) by Tesla (NASDAQ: TSLA) CEO Elon Musk, the founder of Cardano (ADA) shared his thoughts on how the social network could be made decentralized using blockchain and cryptocurrencies.

Litecoin (CRYPTO: LTC) is posting significant gains, after trading below the $60 mark for several weeks.  What Happened: LTC made a surprising jump, surging 32.35% over the past seven days, trading at $72.10, at the time of writing.

On Nov. 2, 2022, the digital asset custody business and financial services provider Bitgo introduced a wrapped version of the meme coin asset dogecoin built on top of the Ethereum blockchain. The company detailed the wrapped dogecoin initiative, the Wdoge DAO, is through a partnership between the Dogecoin Foundation, Bluepepper, and Mydoge wallet.

Dogecoin, earlier today, once again initiated a rally that enabled it to go up by 6% in just 24 hours, peaking at $0.127. But as hours went by, DOGE lost some of its momentum as it is now trading at $0.122 according to tracking from Coingecko.

Twitter has reportedly shelved plans to build a crypto wallet, amplifying Dogecoin losses after a bountiful bull run last week. According to a report by tech blogger Casey Newton, the decision to set aside the wallet was part of the company's restructuring plan initiated by its new owner Elon Musk.

Dogecoin price analysis for November 6, 2022, shows the meme cryptocurrency following a declining movement for the last 48 hours. The price spiked from $0.1186 to $0.1353 on November 5, 2022.

Twitter and its new owner, billionaire and Tesla CEO Elon Musk, is currently under fire following a decision that will effectively make the social media platform a dubious source of information – or so detractors of the social media giant under new management says.