As a seasoned crypto investor with a knack for spotting trends and understanding market dynamics, I find myself intrigued by the recent surge of Dogecoin (DOGE). Having witnessed the meteoric rise of this meme coin back in 2021, I can’t help but feel a sense of déjà vu. The potential for another bull run, driven by Elon Musk’s latest antics and political overtures, is not lost on me.
TL;DR
- Dogecoin surpassed $0.14 once again, potentially fueled by Elon Musk’s recent appearance at a Trump rally and his playful nod to the meme coin.
- Analysts see the potential for more price hikes, with targets up to $0.175 or higher if resistance levels are broken to the upside.
DOGE on the Run Again
On October 28, the meme coin with the highest total market capitalization is outperforming the top 10 cryptocurrencies, having increased by approximately 6% today. At present, it’s trading well over $0.14.
The surge of DOGE could potentially be attributed to Elon Musk’s recent activities. On October 27, the CEO of Tesla attended Donald Trump’s rally at Madison Square Garden, encouraging voters to cast their ballots for the Republican candidate in the upcoming presidential election on November 5.
He once again spoke about establishing a potential Department of Government Efficiency (DOGE) should Trump enter the White House as a winner. The division would aim at fair taxation for Americans and will be spearheaded by Musk himself.
A short while later, Elon Musk’s supervisor shared an engaging photo of him on platform X. The top half of the image shows Musk displaying his muscles during a public speech, and the bottom half showcases a Shiba Inu dog mimicking the same muscular pose. This is reminiscent of DOGE’s logo.
Supporters of Dogecoin expressed delight as they recognized a mention of their preferred digital currency. Some even speculated that this action could potentially boost the entire meme-based crypto market.
Further DOGE Pump?
As a researcher, I’m keeping a close eye on the asset’s performance, and based on predictions from analysts like Ali Martinez, a well-known X user, there’s a strong possibility of a 25% surge if the asset manages to break through its current resistance at $0.143. At the moment, it’s trading slightly above that level.
Crypto Candy also joined in on the prediction, anticipating a fresh bull market reminiscent of the one witnessed in 2021. Let’s take a moment to recall that DOGE’s worth skyrocketed from approximately $0.05 at the beginning of April 2021 to more than $0.70 within a month (an astounding 1,300% surge).
Originally popularized as the Meme Coin, DOGE is now surging on the weekly chart, hinting at the commencement of another bullish trend. Anticipating it might replicate its performance from the previous bull market.
— Crypto Candy (@cryptocandy24x) October 28, 2024
According to BitBull’s predictions, we might see a significant increase in Dogecoin’s price, potentially reaching up to $0.60, by the start of the next year.
Read More
- W PREDICTION. W cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- EUR INR PREDICTION
- USD UAH PREDICTION
- FutureNet Co-Founder Roman Ziemian Arrested in Montenegro Over $21M Theft
- KUJI PREDICTION. KUJI cryptocurrency
- DAG PREDICTION. DAG cryptocurrency
- MCADE PREDICTION. MCADE cryptocurrency
- WOLF PREDICTION. WOLF cryptocurrency
2024-10-28 16:16