DOGE (Dogecoin) has been a strong performer recently and has become one of the market's focal points. As the price of Bitcoin continues to rise, briefly breaking through $81,800 and stabilizing around $81,000, Dogecoin has also been positively affected. In particular, the cryptocurrency market has generally seen a bullish rebound after Trump's election, with DOGE seeing an astonishing rise last week, soaring more than 95% and rising nearly 30% in the past 24 hours.
In addition to its own technical characteristics, Musk's continued support is also an important factor in the attention paid to Dogecoin. His tweets and public remarks have provided a strong impetus for the price of DOGE, even pushing it to the sixth position in market capitalization at one point, surpassing many traditional stablecoins such as USDC. Recently, the price of DOGE broke through $0.29, setting a new yearly high, further stimulating the market's bullish sentiment.
However, Dogecoin is highly volatile, especially after a relatively sharp pullback on Sunday. Nevertheless, for those investors who started to deploy DOGE a few days before the election, this rebound has obviously brought them considerable returns. In the future, whether DOGE can continue to maintain its strong upward momentum still needs to pay attention to the movements of key figures such as Musk, as well as the overall market sentiment changes.
