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The biggest meme coin by market cap has continued its rally, which was solidified by Donald Trump’s election as the brand new US president earlier this week, and has soared previous $0.23 for the primary time for the reason that 2021 bull run.
On the identical time, quite a few X analysts and customers have began to foretell relatively wild value targets, together with one for $3.9 per DOGE.
The chart above showcases DOGE’s large rally as of late, which drove it from $0.1 final month to $0.23 earlier at present. Which means the meme coin soared to its highest price ticket in almost three years after surpassing the 2024 peak of $0.228 charted in March.
Maybe essentially the most possible motive behind this impressive run is Dogecoin’s affiliation with Elon Musk, who has performed an important function in Donald Trump’s victory within the 2024 US presidential elections. Trump and Musk spoke about establishing a Division of Authorities Effectivity (D.O.G.E) below the previous’s administration, which will likely be led by Tesla’s CEO.
Given the acronym, DOGE’s value benefited so much after every time the potential new division was talked about in the course of the marketing campaign speeches.
Regardless of already being 110% up on a month-to-month scale, quite a few X merchants and analysts predict a fair brighter future for the most important meme coin.
Mags, a crypto person with virtually 100,000 followers, outlined a ‘conservative’ prediction of $1.17, which could possibly be reached throughout a meme coin supercycle.
$DOGE pump will soften faces.
Final cycle, I shared Dogecoin earlier than it went up by 170x.
This time, I’m focusing on $1.17 – 8x (conservative goal)
We’re in a memecoin supercycle, and you actually suppose DOGE received’t hit no less than $1? https://t.co/2e2PE6ahAX pic.twitter.com/ztP1Ue2XfD
— Mags (@thescalpingpro) November 9, 2024
Kev_Capital_TA was much more bullish, indicating a possible value degree of $1.8 and even $3.9 below sure, relatively unlikely, circumstances.
In each single #Dogecoin cycle it has reached the 1.618 Macro Golden Pocket. The present Macro golden pocket is $3.90. Nonetheless if we measure from the highest earlier than the Elon Saturday night time dwell craziness then the macro golden pocket is at $1.80 – I personally imagine $3.90 is very… pic.twitter.com/Y0aVFmC2SU
— Kevin (@Kev_Capital_TA) November 9, 2024
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