Dogecoin price volatile as investors sue Musk. Is investing in Metacade a better idea?

The crypto market has experienced its fair share of controversy, and Dogecoin is no exception. A recent lawsuit against Elon Musk has led to significant volatility in DOGE, leaving investors unsure about its future. Meanwhile, savvy investors have been calling Metacade a much better investment. In this article, you’ll read about the DOGE drama, learn where analysts place their Dogecoin price predictions, and discover why Metacade is stealing the spotlight.

Dogecoin (DOGE) whipsaws as Elon Musk’s lawsuit causes uncertainty

Dogecoin, crypto’s most well-known meme coin, has been caught in the crossfire of a controversy that threatens to damage Elon Musk’s reputation severely. As the project’s most vocal advocate, Elon Musk has helped boost Dogecoin’s price and global visibility through several tweets made in recent years. 

Born as a lighthearted joke in 2013, Dogecoin has gained serious traction, standing as the ninth most valuable cryptocurrency with a market cap of over $11 billion. After rising approximately 36,000% in the space of just two years, those left holding the bag have aimed at Elon Musk for allegedly artificially pumping up the price of DOGE to his benefit.

The plaintiffs accuse the Tesla CEO of raking in billions in profit while they lost significant sums of money. However, Musk’s legal team is fighting back, asserting that the lawsuit is nothing more than a “fanciful work of fiction.” In a move that some have said is intentionally aimed to troll the plaintiffs, Elon Musk changed Twitter’s logo to the Dogecoin mascot, sending DOGE soaring as much as 35%. 

Dogecoin (DOGE) price prediction

The volatility of DOGE surrounding the lawsuit has left many Dogecoin price predictions uncertain. DOGE is currently priced at around $0.08, ranging from $0.065 and $0.10 since the start of the year. Some of the more bullish Dogecoin price predictions see the coin rising back up to $0.14 in the short term, while expectations are set for DOGE to reach $0.18 by the end of the year.

Conversely, should adverse developments emerge around the lawsuit, bearish Dogecoin price predictions forecast a further drop to $0.06 – $0.07 in the short term and perhaps even to $0.045. Overall, Dogecoin’s price volatility makes it a less compelling investment. As such, some investors have begun turning their attention to up-and-comer Metacade.

Metacade (MCADE) is setting the standard for Web3 communities

Metacade is an innovative play-to-earn (P2E) platform that aims to unite gamers, developers, and crypto enthusiasts in a vibrant community setting. Envisioned as a central hub for the rapidly expanding GameFi space, Metacade offers features designed to create a fun, engaging, and profitable user experience. 

Metacade has undoubtedly taken inspiration from legacy gaming communities, offering chat rooms, leaderboards, and forums. However, Metacade is elevating the experience by integrating blockchain technology to create a truly unique ecosystem. For example, the platform’s native MCADE token rewards players for their contributions to the community and acts as an entry into regular gaming tournaments.

One of its most exciting uses is as a voting tool in Metagrant competitions. Metagrants empower MCADE holders to allocate the platform’s funds to support the development of top-tier P2E titles, allowing them to vote on proposals offered by game developers. These games are then added to Metacade’s virtual arcade alongside other user-backed titles, offering another way for Metacade to grow its community organically. 

There’s even a planned decentralized autonomous organization (DAO), expected in 2024, that will enable MCADE holders to shape the direction of Metacade, including its partnerships, features, and expansions. Lastly, Metacade has demonstrated its commitment to creating opportunities in the gaming and Web3 sectors, introducing plans to launch a job and gig board in 2024 designed to connect users with roles in these industries. 

These features and more have led to a flood of investment in Metacade, selling out its $16.4 million presale and surging after listing on the BitMart exchange. Recent listings on CoinGecko and CoinMarketCap have helped to solidify the project’s credibility further, as has a partnership with game development company MetaStudio.

Metacade (MCADE) price prediction

As a result of the platform’s outstanding value proposition and recent bullish developments, Metacade price predictions are increasingly optimistic. The MCADE token is worth around $0.040, although many analysts think it could easily rise to $0.45 by the end of the year.

If the GameFi market continues its current expansion rate and Metacade can grow its community effectively, then some experts forecast MCADE might accelerate as high as $0.70 to $0.80 by the start of 2024. If the latter scenario manifests, today’s investors could record as much as 1,900% gains!

The bottom line

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While Dogecoin’s price volatility may eventually produce positive results for investors, the overall picture seems too unsure right now to consider it a good investment opportunity. In contrast, Metacade offers an attractive alternative with its groundbreaking P2E platform. With a strong value proposition, exciting features, and a strategic partnership with MetaStudio, Metacade is well-positioned to become a significant player in the industry.

Metacade has a further catalyst for potential investors, as it will be listed on the MEXC crypto exchange in May, which could send it climbing again. While the date is yet to be confirmed, some have speculated this listing could happen as soon as early May. This event could be the perfect time for interested investors to move and participate in Metacade’s journey to earn its place at the top of the GameFi market. 

CryptoNewsZ Staff

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