Can DOGE Hit $0.5 After US Elections?

Dogecoin($DOGE ) Price Prediction: Can DOGE Hit $0.5 After US Elections?

Dogecoin (DOGE) has witnessed quite a rally over the last few days. The popular memecoin is up by 4.5% in the daily charts, 28.8% in the 14-day charts, 16.9% over the previous month, and 110.5% since late October 2023.

DOGE’s recent price rallies are likely due to Musk’s recommendation to create a Department of Government Efficiency (D.O.G.E.) if Donald Trump wins the upcoming elections. Musk is also one of Trump’s biggest donors and supporters, donating millions to his campaigns. A Trump victory could lead to DOGE hitting a new all-time high, breaching the $0.50 mark last seen in 2021.

Price Prediction For The Memecoin After The Elections

According to CoinCodex analysts, Dogecoin’s (DOGE) price will dip over the next few days. The platform anticipates the asset trading at $0.13 on November 5, 2024, the election day.

Sliding to $0.13 from current levels will translate to a dip of about 7.14%. The platform anticipates DOGE continuing to fall throughout November, hitting $0.122 on Nov. 25, 2024, a dip of about 14% from current price levels.

Changelly presents a bearish outlook for Dogecoin (DOGE) in November. The platform predicts that the asset will dip to $0.10 on election day, November 5, 2024. Hitting $0.10 from current price levels will translate to a dip of about 28.5%.