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President-elect Donald Trump’s Inauguration Day (January 20) has sent the cryptocurrency market into a tizzy, sparking renewed optimism. Among the top performers is Dogecoin, which has played a leading role in leading the meme coins into a bullish phase. Over the past five days, Dogecoin has increased by more than 33%, indicating the potential for a massive rally ahead.
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Dogecoin’s impressive performance reflects its long-term status as a meme coin leader, attracting the attention of retail and institutional investors. The surge in the price of DOGE has also started to affect other dog-themed coins, causing a stir throughout the market. Analyst Jelle shared a technical analysis on X, suggesting that DOGE is paving the way for related coins like FLOKI to follow its upward trajectory.
This resurgence comes amid widespread speculation about pro-crypto steps under the new administration, adding to bullish sentiment in the market. With meme coins gaining momentum and Bitcoin reclaiming key levels, the rise of Dogecoin is part of a larger trend indicating significant growth in the crypto sector.
As DOGE continues to rise, the question remains: can it lead the meme coins to another historic rally?
Dogecoin is expected to rise
Dogecoin (DOGE) is on the verge of a significant breakout as bullish momentum builds around the cryptocurrency. Investors are eyeing a retest of key supply levels, which could signal the start of a massive rally. Market optimism is fueled by anticipation that Donald Trump, who is expected to prioritize crypto policies upon assuming office, could be instrumental in increasing interest and investment in digital assets, including DOGE.
Expert analyst Jelle recently shared his insights onDOGE price growth prediction. “With Trump almost back in office, the US Doge division will soon become a reality,” Jelle commented, hinting at potential government-level involvement with cryptocurrency policies that could benefit the coin. This perspective has sparked excitement among the DOGE community, leading to increased trading activity and speculation on upcoming price movements.
Additionally, Dogecoin’s rally is impacting a broader range of dog-themed coins, with tokens like FLOKI starting to take hold. As DOGE moves higher, FLOKI and similar assets may follow its bullish trend, further adding to the market excitement. Analysts see these coins as part of a larger story of crypto resurgence under more crypto-friendly administrations.
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If Dogecoin successfully reclaims critical supply areas, it could pave the way for higher prices in the coming weeks. Jelle is confident in the trajectory of the coin, expecting a continued upward move driven by both technical indicators and macroeconomic developments. As DOGE begins to rise, market participants are keeping a close eye on its ability to drive a broader rally in the cryptocurrency market.
Testing critical supply levels
Dogecoin (DOGE) is currently trading at $0.41, an important supply level that holds the key to its next major price move. This level has become an important battleground for bulls and bears, as reclaiming it as a demand zone could set the stage for a powerful upward rally. Analysts suggest that once DOGE establishes $0.41 as a base, the price could surpass last year’s high of $0.48, resuming the bullish momentum.
Breaking the $0.48 resistance is expected to open the door to even higher targets, making Dogecoin’s all-time high (ATH) a more achievable target. Market sentiment remains optimistic, with traders keeping a close eye on a potential daily close above the $0.50 range. Such a move would not only confirm the bullish trend, but would also signal the beginning of a massive rally that could lead the meme coin market.
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Historically, Dogecoin’s price action has created ripple effects across the crypto sphere, especially among meme coins. A breakout above $0.50 could spark renewed interest in DOGE and similar assets, solidifying its position as a market leader. As momentum builds, the coming days could be a turning point for Dogecoin, with investors eyeing a potentially explosive rally.
Image displayed from Dell-E, chart from TradingView
