Musk posts on X: He will restore the title of 'Father of Dogecoin'. The next trend will push Dogecoin to new heights, let’s wait and see!

Dogecoin is currently receiving significant attention in the market, with a monthly increase of 175%, and it has now surpassed the top ten cryptocurrencies by market cap. According to a prediction from an analyst on X, the upward trend of Dogecoin has just begun, and it is expected to reach a new historical high.

      According to news from Ali Charts on Twitter X, the largest market cap seems to be breaking a bullish market indicator. If the breakout occurs, DOGE could rise 120% to reach a new all-time high. DOGE is breaking into a bull market, with expectations of a 120% increase to $0.82, as long as the support at $0.37 holds.

     According to Binance exchange news, 73% of bullish traders are holding positions on Dogecoin. Traders' bets on the upward trend of Dogecoin have surpassed short sellers' bets on a price decline. The reason driving the bullish rise of Dogecoin is still Tesla CEO Elon Musk's continued mentions of the token.

Musk restores the title of 'Father of Dogecoin'. Recently, Musk reiterated on Twitter X that he is the 'Father of Dogecoin'. He first used this name during the Saturday Night Live (SNL) program in 2021, after which DOGE's price soared to an all-time high of $0.73. At the current trading price, DOGE still has a way to go to reach that peak!

     In a statement, Trump wrote: "Republican politicians have long dreamed of the goal of 'DOGE'." Ahead of the elections on November 5, Trump vowed to support cryptocurrency and accept regulation to help the US crypto industry thrive.