Even months ago, it seemed like a meme-inducing fever dream. Crypto emerges as the biggest. Winner 2024 election; Elon Musk, the most famous of Dogecoin A lawyeran increase in unprecedented levels of influence and power; The incoming US presidential administration plans to establish a new federal agency – literally – it is called Doug
But everything is true, and everything is happening. And from the amazing events of the past week, Dogecoin has risen. On Election Day, DOGE hovered around $0.15. Since then, the token is close It has tripled. In price, in touch 0.43 dollars on Wednesday and hit a three-year high this week.
The world's first mime coin was here before, though, and the trend Loss of steam After large demonstrations. So how long can Dogecoin's moment last?
Experts who spoke with Decrypt Dogecoin has expressed its belief that a turnaround signal has come from this week's events—so, it seems poised for better days ahead.
As GSR Research analyst Thomas Bautista explained, Dogecoin's price has previously been linked to one-off news cycles – for example, Musk's shilling of meme coin in “Saturday Night LiveIn the year In 2021 – the token is now so incredibly integrated into American politics and culture that it has graduated to a new level of enduring relevance.
“I'm excited to put a hat on it, because now you have this continuous cycle of attention,” Bautista said. Decrypt Dogecoin's potential price ceiling in the coming months.
Because of this, Bautista believes, the coin appears poised to break its previous bullish and then bullish behavior due to an unexpected plug (typically associated with Musk).
“Doge is no longer a prisoner who will increase by 20% and die next week,” the analyst said.
He also pointed out the possibility of a sudden, severe increase Pro-Crypto Tenant of the incoming US government, and Musk Centralization For this, Dogecoin can finally be a payment method Twitter Or Tesla in short.
“Now you have a much, much more dynamic narrative around the Dogecoin asset, which really never existed,” Bautista said.
What does it mean, realistically, for DOGE's potential performance in the coming months? said Ryan Rasmussen, Bitwise's head of research. Decrypt He “wouldn't be surprised” to see Dogecoin move “extremely” from its previous high of $0.73 in the coming months – especially with the January 20 inauguration of President-elect Donald Trump.
With the exception of crypto majors like Bitcoin, Ethereum and Solana, Rasmussen said he expects the digital assets market to continue its unusual squeeze into next year. keep out-Then Dogecoin will keep its place in front of the pack.
“If we're higher in January than we are today, I expect Dogecoin to outperform most crypto assets,” Rasmussen said.
That doesn't mean, to be clear, analysts expect Dogecoin to last forever.
“All this creates a higher ceiling,” says GSR Bautista. “But sustainability is still in question.”
Edited by Andrew Hayward.
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