Elon Musk, as a supporter of Dogecoin (DOGE), announced plans to increase the efficiency of the Office of Government Efficiency (D.O.G.E.). In light of these developments, Real Vision founder Raoul Pal stated that Dogecoin’s rally will continue. In addition, an experienced crypto analyst drew attention to the potential for DOGE Coin to explode.
The price of DOGE Coin continued to rise on Friday, indicating that investors’ confidence in meme coins is increasing. Raoul Pal, founder of Real Vision, one of the prominent names in the crypto world, stated that he evaluated Dogecoin in the “Great Banana Rotation” together with SUI and predicted that there could be a new rally for DOGE. Raoul Pal said the following in a recent post:
“I think SUI and DOGE are next in line for the Big Banana Rotation, and those are probably the tokens you own.”
Pal had previously explained the “Banana Zone” and emphasized the importance of strong assets such as BTC, ETH, and SOL in the portfolio. He advised investors to keep 90% of their portfolio in safe assets and allocate 10% to meme coins. He also stated that one should be careful about overbought and leveraged. Pal’s predictions were a comment that pleased DOGE holders and created an optimistic atmosphere about the future of the meme coin.
The DOGE price increase continues in parallel with Elon Musk’s efforts to increase the efficiency of the Office of Government Efficiency (D.O.G.E.). Donald Trump’s appointment of Musk and Vivek Ramaswamy as the heads of D.O.G.E. has created a positive atmosphere in the markets. The abbreviation of D.O.G.E. also resembles the ticker of Dogecoin, which has caused a rise in crypto prices. In addition, Musk stated that he strongly supports DOGE in his statements on social media.
Musk and Ramaswamy recently announced plans to improve the department’s efficiency. According to the WSJ report, they aim to end the remote work culture at the federal office and reduce government spending. They said these changes could lead to mass resignations but would make it easier to achieve a small and efficient government structure.
DOGE Coin Target from Ali Martinez: $2.4!
The price of DOGE Coin has increased by more than 2% in the last 24 hours to $0.3941. In addition, the daily trading volume is hovering around $8.60 billion. The meme coin has risen to a 24-hour high of $0.3996. According to CoinGlass data, Dogecoin Futures Open Interest is up nearly 9%, indicating strong market confidence. On-chain data and other market trends also suggest that Dogecoin is poised for a parabolic rally alongside SHIB and other meme coins.
Popular crypto analyst Ali Martinez also made a bullish prediction for the price of DOGE Coin. Martinez drew attention to the increasing Dogecoin whale activity and emphasized the potential for DOGE Coin’s future recovery. The analyst stated that whales purchased 550 million DOGE worth $214.5 million last week. He also stated that he expects DOGE Coin to rise to $2.40 in the coming period. The analyst said that after reaching this level, DOGE Coin’s next target will be $18, as he predicts that reaching this level will increase market optimism.