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Inspired by the sentiment of bullishness in the market after the victory of Donald Trump in the presidential elections held in America. dogecoin price It continues to rise, aiming to break the $0.4 resistance level. A crypto analyst from TradingView discusses several factors that could potentially push the price of Dogecoin even higher Touching the $1 mark in this bullish market,
Key Drivers to Send Dogecoin Price to $1
a fresh Post The possibility of Dogecoin price reaching the coveted $1 milestone soon has been discussed on TradingView. Presenting compelling factors, report suggests Dogecoin price could rise to $1 The influence of SpaceX and Tesla CEO Elon Musk,
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To put it more clearly, TradingView has revealed that Musk’s strong support And the dedication to DOGE could allow the meme coin to steadily grow to a market capitalization of $130 billion, which represents an increase in price of $1. Furthermore, the growing popularity of Dogecoin in the financial sector is also set to catalyze potential price growth.
Currently, Dogecoin is one of the most talked about meme coins in the market, as the cryptocurrency is one of the top gainers in it. Bull marketWith more users and investors coming into the DOGE ecosystem, demand and adoption are likely to increase, which could potentially trigger major price increase,
According to CoinMarketCap, the price of Dogecoin has increased by a whopping 250% in just one month. This huge price increase caused the meme coin to reach new highs from the price level of $0.2 to around $0.4. Trading View reports that many analysts estimate The price of Dogecoin will reach the value of $1 in the near future.
Notably, Jeremy, a prominent crypto analyst, told He has 180,300 followers on X (formerly Twitter) Dogecoin price set to reach $1Driven by Musk’s support and integration of the meme coin into the US economy. Other X crypto analysts like ‘Bark’ have Estimate Even more growth in the price of DOGE, assuming it can rise to $10.
DOGE outperforms Bitcoin
During its report, Trading View also revealed what the price of Dogecoin is currently outperforming bitcoin Up to 150%. As mentioned earlier, Dogecoin has been on a parabolic run recently, jumping 110% in just one week while still accumulating gains at the time of writing. Trading View’s report revealed that the following Trump wins the presidency In the run-up to the US elections, the price of Dogecoin increased by 180%.
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This huge price increase outperformed Bitcoin, which rose only 30% over the same period. While the price of Bitcoin is much larger than DOGE and is successfully achieved a new ATHWith a low price of around $0.4, DOGE is seen as a more accessible and profitable option for small investors.
Despite the clear rise in Dogecoin’s price, Trading View analysts caution against moving too quickly. He warned that a recession remains likely and low prices could be misleading.
Featured image created with Dall.E, chart from tradingview.com
