$DOGE COIN has been one of the biggest gainers in the current crypto rally. The token recently broke $0.44, the highest price since May 2021. Now, traders are asking how high it can go. The main driver for Dogecoin’s growth was the recent market rally, catalyzed by the 2024 US elections.

With Donald Trump’s victory, Elon Musk, a big donor to the campaign, has the ear of the president-elect. One of the first things that Trump promised was the creation of the Department of Government Efficiency (DOGE). The agency, a playful homage to Dogecoin, was Musk’s idea and is the latest way the billionaire is promoting the token.

Now, traders are betting that Musk can use his influence to promote Doge further. This is why Dogecoin was up 124.20% in the last 30 days, with most of these gains after the election. Analysts agree with the traders and believe that Doge is in a strong position to break the $1 mark.

Analyzing Dogecoin’s past price action yields a strong target for the token. The token recently formed a classic cup and handle before the November breakout. By extending that pattern, analysts put the price target at $1.385.

However, Dogecoin’s weekly Relative Strength Index (RSI) is at 86, suggesting overbought conditions. This could mean that there may be sudden pullbacks. Key supports that traders should watch are at $0.35, $0.285 and $0.22.

Cutoshi Secures over $1.3 Million In Investments

MemeFi Cutoshi (CUTO) achieved a major milestone in its presale. In November, the token broke $1 million in presale investments.

The reason for Cutoshi’s presale success is its blend of memes and DeFi. Cutoshi has the Chinese Lucky Cat as its symbol, which is believed to bring luck and prosperity to its owners. At the same time, Cutoshi takes its name from Satoshi, the creator of Bitcoin. Just like Satoshi, the Cutoshi project believes in decentralization, privacy and digital freedom.

For that reason, this meme coin wants to get as many people into the world of DeFi as possible. It is building a decentralized ecosystem run by its users and one that is very easy to use. At its core is its multichain DEX, with self-custody, low fees and enabling trading on most major chains.

Its features are designed to make DeFi easy for new users. Cutoshi will also have a learning platform, to help new users learn all there is to know about the technology. With more people getting into crypto than ever, platforms like Cutoshi have a chance to make DeFi a viable alternative to centralized exchanges.

"Dogecoin is better suited for transactions as compared to Bitcoin" Elon Musk said!!!
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