Scottie Pippen Endorses Dogecoin Sparking 56% Yearly Gain

Former NBA All-Star Scottie Pippen has recently gained attention for his bold claims about Satoshi Nakamoto, the pseudonymous creator of Bitcoin. Pippen, known for his legendary career in basketball, has become a notable figure in the cryptocurrency community, particularly for his endorsement of various digital assets.

Pippen's latest move involves listing Dogecoin among his top cryptocurrency picks. In a post on his X account, Pippen revealed that while Bitcoin remains his top choice, he is actively building a watch list of altcoins. This list includes Ethereum, Solana, XRP, BNB, Cardano, Dogecoin, Shiba Inu, Chainlink, and Cronos, as well as his own cryptocurrency, BALL. Pippen's endorsement of Dogecoin has sparked interest among meme traders, who are always on the lookout for the next big catalyst in the volatile cryptocurrency market.

However, Pippen's credibility within the cryptocurrency community has been a subject of debate. His recent actions, including the launch of his own Game 5 Ball NFT and claims of meeting Satoshi Nakamoto in 1993, have raised eyebrows. These statements have led some to question the legitimacy of his endorsements, including his support for Dogecoin. Despite this, Dogecoin remains a popular meme token, and its long-term price prediction remains positive, according to analysts.

Dogecoin's price has seen fluctuations, currently trading at $0.1698. While it has experienced a 3% dip in the past 24 hours, it has shown a 5% increase over the past week and a 56% gain over the past year. The meme token's recent boost can be attributed to Pippen's endorsement, but the overall market sentiment remains uncertain due to ongoing concerns about US tariffs. This uncertainty has prevented a significant price surge for Dogecoin, despite Pippen's high-profile support.

Despite the mixed reactions to Pippen's endorsement, technical indicators suggest that Dogecoin may be on the verge of a recovery. A bullish pennant has formed on its chart, and both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) have begun to rise after being in an oversold position for over a month. These indicators suggest that Dogecoin could potentially top $0.20 by mid-August and may eventually target the $1 price point in the longer term.

For traders looking for alternative meme tokens with stronger potential, newer projects like TOKEN6900 have emerged. TOKEN6900, an ERC-20 cryptocurrency, has already raised $245,000 in its presale, indicating growing popularity. Unlike other meme coins that attempt to add utility, TOKEN6900 embraces its lack of fundamentals, relying solely on hype, marketing, and FOMO. This strategy has attracted early investors, and the project aims to capitalize on the collective hallucination of online traders. TOKEN6900's presale price is currently $0.0065, with plans to increase in just under two days, encouraging quick action from potential investors.