$CFX - On November 5, after the U.S. elections, the value of Dogecoin nearly doubled, soaring to 42 cents at one point. On November 12, after Trump announced that Musk would lead the 'Department of Government Efficiency', Dogecoin rose over 8%.

- On November 18, the price of Dogecoin reached $0.35823 per coin, with a daily drop of -3.01%, but from the candlestick chart, the overall trend is upward, although the upward momentum is weakening.

- As of November 24, the trading price of Dogecoin was $0.3843, down 1.24% in the past day.

Market Dynamics

- Investor Lawsuit: In 2022, investors filed a class action lawsuit against Musk and Tesla for manipulating the price of Dogecoin; by November 2024, the investors had withdrawn their appeal, officially ending the legal dispute.

- Large Investors' Strategy: Large investors known as 'whales' have accumulated 550 million DOGE, with a total holding of 20.6 billion tokens, steadily accumulating Dogecoin over the past two months in preparation for potential upward momentum.

- Korean Market Boost: Increased demand in the Korean market has created a 'kimchi premium', with a significant increase in DOGE trading volume on the Upbit exchange, at one point exceeding Binance by 1.5%.

Future Outlook

- Some market analysts believe that Dogecoin is in the early stages of a new bull market, often experiencing significant fluctuations around 200 days after Bitcoin's halving; if this trend repeats, it could rise sharply again.

- Analyst Ali Martinez predicts that Dogecoin could rise by 120%. If it maintains a support level of $0.37, the price could reach $0.82, facing resistance at $0.4400 after breaking out of consolidation, and further challenges at $0.5500 and $0.6500, potentially rising to $1.