Elon Musk and Vivek Ramaswamy will meet with Republican House and Senate members next week, revealed House Speaker Mike Johnson. The Department Of Government Efficiency (DOGE) will propose key proposals to reform government regulations and agencies. Dogecoin price awaiting a breakout to $1 and further could witness a massive rally.
Analysts Predict Dogecoin Rally to $2
Dogecoin rallied massively as President-elect Trump and Elon Musk promised major governmental transition and crypto-friendly regulations. DOGE price jumped 6% in the past 24 hours, with the price currently trading at $0.42. The 24-hour low and high are $0.400 and $0.437, respectively. Furthermore, the trading volume has increased by over 80% in the last 24 hours, indicating massive interest among traders.
In the derivatives market, total Dogecoin future open interest climbed 6% in 4 hours and 15% in 24 hours, per Coinglass data. The 8.85 billion DOGE futures OI are now valued at $3.80 billion, signals support for a further upside move.
Analyst Bluntz Capital predicted a 420% upside for Dogecoin price to $2.2. He added that $1 will hit soon as DOGE/BTC pair chart targets massive rally. 
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Rekt Capital, one of the top analysts, said Dogecoin price chart formed an ‘ascending triangle’ pattern on the daily chart. This means the meme coin could enjoy another round of money flow.
He added that DOGE needs to close the week above $0.43 to confirm a breakout to $1. Notably, DOGE is already forming a ‘golden cross’ on the 4-hour chart, which could trigger a rally to $2. 
Image source: Trading View
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