The largest meme coin by market cap has continued its rally, which was solidified by Donald Trumpās election as the new US president earlier this week, and has soared past $0.23 for the first time since the 2021 bull run.
At the same time, numerous X analysts and users have started to predict rather wild price targets, including one for $3.9 per DOGE.
DOGE/USD. Source: TradingView
The chart above showcases DOGEās massive rally as of late, which drove it from $0.1 last month to $0.23 earlier today. This means that the meme coin soared to its highest price tag in nearly three years after surpassing the 2024 peak of $0.228 charted in March.
Perhaps the most probable reason behind this impressive run is Dogecoinās affiliation with Elon Musk, who has played a vital role in Donald Trumpās victory in the 2024 US presidential elections. Trump and Musk spoke about establishing a Department of Government Efficiency (D.O.G.E) under the formerās administration, which will be led by Teslaās CEO.
Given the acronym, DOGEās price benefited a lot after each time the potential new department was mentioned during the campaign speeches.
Despite already being 110% up on a monthly scale, numerous X traders and analysts predict an even brighter future for the largest meme coin.
Mags, a crypto user with almost 100,000 followers, outlined a āconservativeā prediction of $1.17, which could be reached during a meme coin supercycle.
Kev_Capital_TA was even more bullish, indicating a potential price level of $1.8 or even $3.9 under certain, rather unlikely, circumstances.
The post Dogecoin (DOGE) Rallies 12% to 3-Year High Amid āFace-Meltingā Price Predictions appeared first on CryptoPotato.
At the same time, numerous X analysts and users have started to predict rather wild price targets, including one for $3.9 per DOGE.
DOGE/USD. Source: TradingView
The chart above showcases DOGEās massive rally as of late, which drove it from $0.1 last month to $0.23 earlier today. This means that the meme coin soared to its highest price tag in nearly three years after surpassing the 2024 peak of $0.228 charted in March.
Perhaps the most probable reason behind this impressive run is Dogecoinās affiliation with Elon Musk, who has played a vital role in Donald Trumpās victory in the 2024 US presidential elections. Trump and Musk spoke about establishing a Department of Government Efficiency (D.O.G.E) under the formerās administration, which will be led by Teslaās CEO.
Given the acronym, DOGEās price benefited a lot after each time the potential new department was mentioned during the campaign speeches.
Despite already being 110% up on a monthly scale, numerous X traders and analysts predict an even brighter future for the largest meme coin.
Mags, a crypto user with almost 100,000 followers, outlined a āconservativeā prediction of $1.17, which could be reached during a meme coin supercycle.
Kev_Capital_TA was even more bullish, indicating a potential price level of $1.8 or even $3.9 under certain, rather unlikely, circumstances.
The post Dogecoin (DOGE) Rallies 12% to 3-Year High Amid āFace-Meltingā Price Predictions appeared first on CryptoPotato.
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