Dogecoin surged 97% in 7 days, currently ranking sixth in market value amid Musk's influence.
High trading volume drives Dogecoin's price, peaking at $0.323 with a daily growth rate of 20.5%.
MACD crosses up and RSI is overbought indicating strong yet cautious investor sentiment.
Dogecoin (DOGE) has skyrocketed 33% in the past 24 hours and 97% in the past seven days, pushing its market capitalization past USD Coin (USDC) to claim the sixth position in overall market value.
https://twitter.com/WuBlockchain/status/1855790686022615417
The price of DOGE reached $0.323 as of November 11, marking a 20.48% increase for the day. The current trading volume over the past 24 hours has surged 45.02%, totaling $18.79 billion.
These figures highlight the growing interest among investors and increased trading activity, possibly partly related to recent political ties, including Elon Musk's public support for former President Donald Trump and Musk's announcement of a new division called "D.O.G.E."
The price increase is supported by a significant rise in Dogecoin's market capitalization, now reaching $47.40 billion, reflecting a 20.50% increase. The trading volume over the past day indicates heightened investor activity, with a strong upward price trend throughout the day.
In the early morning, Dogecoin dropped to a low of $0.2676 before starting a steady increase with prices peaking around $0.3237 later in the day.
Source: CoinMarketCap

Reaping the Delicious Fruit from Dogecoin

Dogecoin's growth from 0.20 USD to 0.30 USD in the past October is truly a testament to perseverance in investing. There have been numerous instances in the past where the cryptocurrency market has gone through significant waves, with unusual ups and downs, causing many to easily lose faith and be ready to withdraw. However, the perseverance to hold onto the Dogecoin investment during this period has yielded significant results, with a growth rate of up to 71%.

Investing in cryptocurrency always requires resilience and trust in a long-term strategy. Looking at Dogecoin's recent short-term surge, it is evident that patience is one of the factors that helps to overcome the unpredictable fluctuations of the market. Not being swayed by small changes or unfounded rumors is a testament to your investment determination – an important factor in maintaining goals and achieving desired profits.

This is also a lesson to continue to persevere with the selected investments, especially in the cryptocurrency market, where patience and long-term strategies are always put to the test.

Binance announces good news for XRP and DOGE users
The world's largest cryptocurrency exchange, Binance, has just announced good news for the cryptocurrency community, especially for users of XRP and Dogecoin (DOGE).
In its latest announcement, Binance Earn revealed that they have added these two altcoins to their smart arbitrage trading services.
What is Smart Arbitrage?
Smart Arbitrage leverages the funding rate mechanism by hedging futures positions with a spot position to earn funding fees. This strategy eliminates price volatility risk by holding opposing positions in the futures and spot markets.

As a result, profits from long positions offset losses from short positions and vice versa. So far, Binance Smart Arbitrage has only supported Bitcoin (BTC), Ethereum (ETH), and Solana (SOL).

With this leading exchange adding XRP and DOGE to Smart Arbitrage, it has sparked optimistic predictions about the upcoming price surge, especially as Donald Trump's victory is driving the bullish market.
$DOGE

Bitcoin reaches a new record above $75,000, DOGE rises 30%, as Trump takes the lead.
Bitcoin surged to a new record high of $75,000 on cryptocurrency exchanges Binance, Coinbase, and others on Wednesday morning in Asia as election results favored cryptocurrency-supporting Republican candidate Donald Trump.

BTC has risen 9% in the past 24 hours, and surged strongly in the last two hours along with Trump’s odds on Polymarket, where players currently give him an 85% chance of winning the U.S. presidential election.
Most cryptocurrency traders view Trump’s victory as a bullish move for the market compared to Democrat Kamala Harris, who is not seen as very friendly towards cryptocurrencies.

Meanwhile, DOGE has also risen nearly 30% in the past 24 hours, extending its 30-day increase to over 83%, becoming the best-performing token in the top 10.

The reason for DOGE's price increase is believed to be Elon Musk's strong support for Donald Trump.

The optimistic sentiment towards DOGE is showing signs of spreading to dog-themed tokens, with Shiba Inu (SHIB), Floki (FLOKI), and Bonk (BONK) rising more than 10%.

Early trends from Fox News show Trump winning in Kentucky, Florida, West Virginia, and four other electoral votes, outpacing opponent Kamala Harris. At the time of writing, Trump leads with a score of 216 to Harris's 193.

The price of Dogecoin (DOGE) is expected to rise significantly in the near future due to increasing interest from the community and positive developments in the cryptocurrency market. DOGE was initially created as a joke but quickly attracted the attention of investors thanks to its accessibility and large community. Influential individuals like Elon Musk have shown strong support for this coin, raising expectations for DOGE's long-term growth potential.

Recently, the cryptocurrency market has shown signs of recovery, which could boost interest and investment in DOGE. Furthermore, some technical improvements for the Dogecoin network and collaborative projects are being implemented, laying the groundwork for DOGE to become more attractive to both new users and current investors.

However, it is important to note that the value of DOGE remains very volatile and depends on market sentiment. Therefore, expectations for DOGE's price increase should be accompanied by careful consideration of risks.

Elon Musk: ‘I Just Like Dogecoin’
Elon Musk asserts that he is not “actively involved” in cryptocurrency, but his recent mentions of Dogecoin seem to be pushing the price of this meme coin higher.

Elon Musk stated that he does not “actively participate” in cryptocurrency, but simply likes Dogecoin for its humor, memes, and the image of its dog.
At a rally supporting Donald Trump in Pennsylvania, Musk was asked about bringing blockchain into government.

Currently, he is a Republican and supports Trump’s re-election. Trump even mentioned that Musk could lead a committee to improve government efficiency, called D.O.G.E., if he wins the election.

Dogecoin (DOGE), currently the ninth largest cryptocurrency by market cap, has risen nearly 22% in the past seven days, trading at over $0.14.

Although still far from its peak of $0.73 in 2021, DOGE reached its highest price in four months last weekend, thanks to Musk's tweet: “D.O.G.E. will fix it.”