As the cryptocurrency market heats up in anticipation of President-elect Donald Trump's inauguration, all eyes are on Dogecoin (DOGE), the beloved meme coin with a loyal following.
Dogecoin (DOGE) is showing no signs of slowing down, and as the inauguration of President-elect Donald Trump nears, the beloved meme coin is once again in the spotlight. Amidst the excitement, prominent crypto trader “WSB Trader Rocko” has shared his optimism, suggesting that DOGE is unlikely to dip below the $0.40 threshold anytime soon.
Rising from the depths of a meme, Dogecoin has managed to capture the attention of the masses, thanks in part to Elon Musk's relentless support. As a member of Trump's proposed Department of Government Efficiency (D.O.G.E.), Musk could potentially play a role in boosting the meme coin's visibility and narrative.
Fresh off his bold market predictions, Rocko took to social media on December 16, 2024, to share his upbeat outlook for DOGE. In a post that quickly garnered attention, he declared, “Last Chance to buy dogecoin below $0.40.”
Ꮐearing up for an exciting analysis, the trader went on to explain his reasoning for dogecoin's upcoming price surge. Based on a technical analysis of a double-bottom formation in the daily price chart, the trader predicts a 60% chance of dogecoin reaching $1 by конце января 2025.
Two targets are in sight: one above $0.73 and the other at the $1 mark, a level that many enthusiasts have been eagerly anticipating. This analysis suggests that dogecoin could continue its rally in the coming weeks, especially if the technical indicators and market conditions hold up.
Dogecoin Price Surges as Musk Joins Trump’s Task Force
As 2024 draws to a close, the crypto world is abuzz with anticipation over the upcoming presidential inauguration and its potential impact on digital assets. Some analysts believe that dogecoin could experience a second leg of its parabolic rally, similar to the 2021 bull market, especially with the meme coin remaining in the limelight.
In particular, Ali Martinez, a well-known crypto analyst, has suggested that the price action in dogecoin could align with the inauguration of President-elect Donald Trump. Known for his bold predictions, which have earned both praise and skepticism in the past, Martinez has suggested that dogecoin could rise as high as $23 in the current market cycle, though that remains a distant target for now.
