Are Dogecoin Prices Rising Parabolically? Analysts Expect DOGE to Top $20

Dogecoin rose 1.5% in 24 hours to $0.3872 as Bitcoin reached another record high yesterday.

The meme token, along with the rest of the market, has gained 3.5% in a week, 96% in two weeks, and 183% in a month since Donald Trump's presidential triumph.

It had a fantastic November, but popular trader Ali Martinez says the currency is starting a “parabolic bull run.”

Martinez has set a goal range of $2.40 to $23.26 for the current bull cycle, and although the latter price may be lofty, DOGE appears poised to overcome the lower level next year.

Martinez predicts that DOGE will trade between $2.40 to $18 next year if it follows its historical price movement.

He adds that DOGE “tends to peak around the 1.618 and 2.272 Fibonacci retracement levels,” setting an upper target of $23.26.

Combining these two figures yields a $2.40–$23 target range.

This means DOGE will grow 519% to 5,840% from its current pricing.

These are substantial gains, but the market is so optimistic that Dogecoin might reach the lower objective.

After Trump's re-election, crypto has received a steady stream of favorable news, including yesterday's announcement that Gary Gensler would step down as SEC Chairman.

DOGE has also had some optimistic headlines, notably the revelation that longtime Dogecoin supporter Elon Musk would lead the Department of Government Efficiency.

This suggests that the meme token might directly benefit from the Trump administration, albeit no one has addressed this.

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