Dogecoin Consolidates but Awaits Growth
This week, Dogecoin’s (DOGE) price remained in a consolidation phase as its recent parabolic rally temporarily paused. On Wednesday, November 20, DOGE traded at $0.3850, slightly below its yearly high of $0.4387.
This stagnation mirrors Bitcoin’s (BTC) movement, which is currently trading within the $90,000 to $94,000 range.
Dogecoin’s Potential Growth Driven by Political Events
Dogecoin may experience a rebound in the coming weeks, thanks to recent political developments in the Trump administration. Donald Trump appointed Howard Lutnick, CEO of Cantor Fitzgerald, as Secretary of Commerce. Lutnick is known for supporting cryptocurrencies, and his firm manages Tether.
Additionally, Elon Musk and Vivek Ramaswamy have been tasked with leading a new Department of Government Efficiency. Speculation also suggests that Trump Media might consider acquiring Bakkt, a crypto-focused company.
Factors Supporting Dogecoin’s Growth
Dogecoin could benefit from a combination of favorable regulations, low interest rates, and increasing investor interest (Fear of Missing Out – FOMO). Its daily trading volume has exceeded $14 billion, surpassing the combined volumes of Shiba Inu, Pepe, and Bonk. Furthermore, open interest in Dogecoin futures has climbed to $3.8 billion, indicating strong demand.
Crypto Analyst Predicts Significant DOGE Price Increase

According to renowned analyst Ali Charts, Dogecoin has substantial growth potential. He predicts the price could rise by 120% to reach $0.82.
Technical analysis reveals that DOGE is holding above the key resistance level of $0.2286, representing the upper boundary of a “cup and handle” pattern. Additionally, Dogecoin is trading well above its 50-day and 200-day moving averages, which recently formed a golden cross – a bullish market indicator.
DOGE has also developed a bullish flag pattern, characterized by a sharp upward movement followed by a triangular consolidation. This pattern typically signals continued gains.
What Could Impact Dogecoin’s Price Movement?
If Dogecoin breaks above the upper boundary of the bullish flag at $0.4387, it could gain further upward momentum. However, this optimistic outlook would be invalidated if the price falls below the support level of $0.3412, the low from November 17. In such a scenario, Dogecoin might face a more significant correction.

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Dogecoin Slows After Record-Breaking Growth
After a week of significant growth, Dogecoin (DOGE) has stabilized and experienced a slight decline. Currently trading at $0.38 per token, this marks a 0.5% drop in the past 24 hours and a 2.5% decrease compared to last week.
Last week, Dogecoin reached a three-year high of $0.43 and briefly returned to the $0.40 range. However, it is now experiencing a quieter phase. Similar trends are observed with other meme tokens, such as Shiba Inu (SHIB), Bonk (BONK), and Dogwifhat (WIF), all showing negative performance.
A New Meme Token Emerges
While most meme tokens are experiencing a downturn, a newcomer, Just a Chill Guy (CHILLGUY), has defied expectations. Built on Solana and inspired by a viral TikTok meme, this token surged by 400% in just one day, reaching $0.41 with a market capitalization of $408 million. The token was launched only on Monday.
Why Is Dogecoin Slowing Down?
Dogecoin, like other meme tokens, is notorious for its volatility, which often leads to corrections after rapid gains.
Declining Interest in Dogecoin:
Dogecoin’s momentum is driven by media attention and hype. However, following Donald Trump’s election victory and speculation about his proposed "Department of Government Efficiency" (DOGE), the excitement has started to fade, impacting its price.
Altcoin Market Weakness:
According to Wintermute OTC’s Jake Ostrovskis, Dogecoin’s slowdown is not unique. “We’re seeing general weakness across the altcoin space,” he said. “Bitcoin’s performance is drawing liquidity away from altcoins, and the inherent volatility of these markets makes corrections a normal part of trading.”
Pressure From Miners:
BIT Mining economist Youwei Yang pointed out the high profitability of Dogecoin mining, which may be prompting miners to sell their holdings. “DOGE mining, combined with Litecoin (LTC), is currently two to three times more profitable than Bitcoin mining,” Yang said. Miners are cashing in to secure profits, potentially contributing to the token’s price dip.
Dogecoin Still Riding on Gains
Despite the recent slowdown, Dogecoin has seen impressive growth over the past month, with its price increasing by more than 163%. The token’s market capitalization now exceeds $55 billion.
Musk’s Influence:
Elon Musk, CEO of Tesla and SpaceX, has been a long-time advocate for Dogecoin. Since 2019, his tweets and support have significantly boosted the cryptocurrency’s value. After Musk acquired Twitter (now known as X), his continued promotion of Dogecoin further strengthened its price and market capitalization.

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,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“