Is DOGE ready for a new rally?

TL; DR

DOGE has skyrocketed as whales have bought over 1 billion tokens in the last 24 hours. Elon Musk's recent role as head of the Department of Government Efficiency (DOGE) has added to the excitement among Dogecoin supporters.

New ATH revenue?

of The biggest meme coin into terms The market capitalization has seen a strong 30% price increase in the last two weeks. currently, Approximately $0.36 (per CoinGecko's data), representing a 6% jump in daily balance.

As one says Important Following the recent development, DOGE's valuation may rise further in the short term. Famous commentator Ali Martinez revealed Dogecoin whales on X have bought more than 1.08 tokens (over $350 million in subsequent tariffs) in the last 24 hours. Several days ago, large investors obtained Another 300 million DOGE.

From the whales such a speed of purchase is reduced Size DOGE is available on the open market. This can to follow With an increase in price (demand must stay the same or go north). Additionally, this activity shows confidence in the asset, encourages retail investors to follow suit and increases prices. This behavior can lead to “FOMO” (fear of missing out) and the need to drive more.

Some market watchers, including Trader Tardigrade and Professor Astrons, speculate that DOGE may soon reach new all-time highs. The former He said he deserved it. Mem coin speculation has hit a local bottom early and It's ready now. b March to a new peak. Professor Astrones Viewed the DOGE price chart, provocative Telling his nearly 200,000 followers to remind him when $1 goes down.

2025 to be the year of the DOGE?

Some think the new year could be a very successful one for the OG meme coin. After all, Donald Trump will be the 47th President of the United States in less than 20 days; Elon Musk lead A newly established department called the Department of Government Efficiency (DOGE). The organization's main goal will be to reduce bureaucracy, cut unnecessary regulations and eliminate wasteful spending in the US government.

Musk's participation in politics and the name of the division he will lead Huge Enthusiasm among DOGE fans. After all, the CEO of Tesla He is a great lawyer. meme coin, often extolling his prowess and supporting X.

Moreover, in May of last year, his EV giant Integrated DOGE as a payment option on the website. We have yet to see if some of his businesses will introduce other Dogecoin-related initiatives in the next 12 months.