Dogecoin (DOGE) has experienced significant fluctuations recently, especially after political events and the involvement of famous figures.
1. Price increase after the announcement of President-elect Donald Trump
On November 12, 2024, DOGE surged nearly 20% to $0.43 after President-elect Donald Trump announced the establishment of the Department of Government Efficiency, abbreviated as DOGE. Trump appointed billionaire Elon Musk and entrepreneur Vivek Ramaswamy to lead this agency, aiming to improve government operational efficiency.
2. Strong growth forecast
Analysts forecast that DOGE may continue to grow. Some predictions suggest that DOGE could reach $1 or even $3-4, equivalent to an increase of over 1,000% compared to the current price, if the market trend remains positive.
3. Whale activity and accumulation
On-chain data shows that large addresses (whales) have accumulated a significant amount of DOGE, indicating confidence in the price increase potential of this currency. This accumulation could lay the foundation for subsequent price increases.
4. The influence of Elon Musk
Elon Musk, who was appointed to lead the Department of Government Efficiency, has repeatedly expressed support for DOGE, contributing to the increase in interest and value of this currency. His involvement in government activities may continue to positively influence DOGE.
Conclusion
With many favorable factors as mentioned, I am very confident in continuously buying into Doge (lucky to buy a large quantity at the price of $0.9)