Dogecoin Price Prediction: Trump’s DOGE Department Just Collapsed – So Why Is the Token Surging?
Despite headlines that must be bearish for the meme coin, the Dogecoin price prediction is popping unexpectedly bullish.
The U.S. authorities has formally shut down the Department of Government Efficiency (DOGE), however as an alternative of crashing, DOGE is climbing.
The Office of Personnel Management confirmed the company’s closure, which adopted reviews of a break up between President Donald Trump and Elon Musk, who was believed to be main the cost-cutting effort.
Even with political drama in the combine, DOGE is shifting greater, proving as soon as once more that meme cash don’t comply with the guidelines.
Even although DOGE had been actively posting about its downsizing efforts up till yesterday, OPM chief Scott Kupor confirmed the division’s closure in an interview with Reuters printed in the present day.
The company’s hyperlink to Dogecoin as soon as despatched the token hovering, particularly after Elon Musk was named to steer the initiative, a transfer many noticed as a direct nod to the meme coin.
Now, with the information confirmed and DOGE unexpectedly pushing greater, the charts are displaying indicators of a possible shift.
Dogecoin Price Prediction: DOGE Bounces Off Key Support and Could Deliver Big Gains
Despite the announcement, Dogecoin has gone up by 1.1% in the previous 24 hours, whereas buying and selling volumes have jumped by 20%.
The market seems to be shrugging off the information, because it makes an attempt to get better from the important setback it skilled over the previous few weeks.
A number of days in the past, Dogecoin broke under a long-standing pattern line help, sparking concern amongst merchants.
The worth shortly dropped from $0.15 to $0.13, triggering a wave of bearish sentiment.
So far, $0.13 seems to be holding as help, the identical stage that sparked a significant rebound on April 7.
Back then, DOGE doubled inside a month, climbing from this base to $0.26.
If that sample repeats, it may imply a 100% upside for these shopping for at present ranges.
Dogecoin might first retest its latest swing high at $0.29, and if momentum continues, the rally may stretch towards its November 2024 peak of $0.47, a achieve of 224%.
As meme cash start displaying early indicators of restoration, some merchants are wanting even earlier in the cycle.
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