According to Benzinga: Dogecoin (DOGE) has seen an impressive 159% rally to $0.41 since the U.S. presidential election, driven by renewed optimism for a crypto-friendly environment under President Donald Trump and a broader cryptocurrency market surge. Bitcoin’s new all-time high has further contributed to this enthusiasm, sparking demand for meme-based assets like Dogecoin, which appeals to retail investors with its low price and high accessibility.
Market Sentiment and Policy Speculation Drive Dogecoin Higher
Trump’s campaign has generated excitement among crypto investors, with his messages suggesting support for a U.S. crypto economy. Expectations are rising that the Republican Party’s recent win will lead to policies favorable to digital assets, including corporate tax cuts and a stringent stance on inflation. As concerns over inflation grow, many investors are increasingly viewing cryptocurrencies as a hedge against dollar devaluation.
Whale Moves 200 Million DOGE Amid Dogecoin’s 13% Daily Price Rise
On the back of Dogecoin’s rally, Whale Alert reported a large transfer of 200 million DOGE, worth nearly $45.7 million, from Robinhood to an anonymous wallet. This major transaction has stirred the crypto community, sparking various reactions and discussions on social media. Such substantial movements are often seen as a precursor to further price volatility, with traders keeping a close watch.
According to analyst Ali Martinez, Dogecoin recently broke through the $0.198 resistance level, and if the meme coin continues to sustain above $0.20, it could enter a parabolic run. Over the past 24 hours, Dogecoin surged 13.28%, briefly reaching $0.232 before settling around $0.229 at the time of this report.
As the pro-crypto sentiment grows and institutional interest in cryptocurrencies expands, Dogecoin’s community-driven appeal and market position as an entry-level asset could continue to boost its price trajectory.
