Dogecoin (DOGE) surges 12% to 3-year high amid ‘face melting’ price predictions.

Earlier this week, Donald Trump's election as the new US president strengthened and continued its rally past $0.23 for the first time since the 2021 bull run.

At the same time, several X analysts and users have started predicting wild price targets, including one for DOGE at $3.9.

The chart above shows DOGE's massive rally from $0.1 last month to $0.23 earlier today. This means that MemCoin surpassed the 2024 high price of $0.228 set in March and rose to the highest price tag in three years.

Perhaps the main reason behind this remarkable run is Dogecoin's association with Elon Musk, who played a crucial role in Donald Trump's victory in the 2024 US presidential election. Trump and Mook talked about establishing a Department of Government Efficiency (DOGE) under the previous administration, headed by Tesla's CEO.

After being briefed, the DOGE's value has benefited greatly since the new department was mentioned during campaign speeches.

Although it has already risen 110% on a monthly basis, many X traders and analysts predict a brighter future for the great meme coin.

Mags, a crypto user with nearly 100,000 followers, listed a ‘conservative' prediction of $1.17 that could be reached during the meme coin supercycle.

The $DOGE pump melts faces.

Last cycle, I shared before Dogecoin increased by 170x.

At this point, he is targeting $1.17 – 8x (conservative target).

Are we in a memecoin supercycle, and do you really think DOGE won't hit at least $1? pic.twitter.com/ztP1Ue2XfD

— Mags (@thescalpingpro) November 9, 2024

Kev_Capital_TA was more bullish, suggesting that the price level could be $1.8 or even $3.9 under certain, rather unlikely scenarios.

Reached 1.618 macro golden pockets per #Dogecoin cycle. The current macro gold price is $3.90. But before Elon's Saturday Night Live craziness, the macro gold pocket we saw above is at $1.80 – I personally believe $3.90 is high… pic.twitter.com/Y0aVFmC2SU

— Kevin (@Kev_Capital_TA) November 9, 2024