Golden Cross” on Dogecoin’s weekly chart as Elon starts working with Trump – Will DOGE hit 100 $ ?

Doge gained 2% in 24 hours, hitting 0.3887 $ as the cryptocurrency market recovers from yesterday’s plunge.

DOGE is up 92% in a week and 234% in a month after President-elect Donald Trump said yesterday that Elon Musk and entrepreneur Vivek Ramaswamy would lead a Department of Government Efficiency.

The agency will streamline government operations and budget, but its use of the term “DOGE” could send Dogecoin prices soaring in the months ahead.

As analysts note that Dogecoin’s weekly chart has made a golden cross for the first time since late 2020, a meaningful rally to 2,$ or higher could be in sight.

“Golden Cross” on Dogecoin’s Weekly Chart as Elon Starts Working With Trump – Will DOGE Hit 100,$ ?

The last time Dogecoin’s weekly chart formed a golden cross, its price surged 26,000% in a matter of months, peaking at 0.7316,$ in May 2021.

A cryptocurrency expert on Twitter said his chart has done the same thing again, indicating a price target of $2-4.

A 26,000% surge in Dogecoin’s price would bring in nearly $100.

Given the need for runaway inflation (which Trump has promised to “end”), a market cap of just over $14 trillion is unlikely.

Regardless of the target, Dogecoin’s trend and momentum predict a breakout, with the coin poised to rally throughout the year and beyond.

DOGE could fall further before rallying, but its Relative Strength Index (purple) has stabilized over the past hour and could rise shortly.

It’s also encouraging to see that Dogecoin’s trading volume remains robust at $38.8 billion.