Dogecoin Leads The Pack As Dog-Themed Coins Rally – “Trump Effect” Sparks Excitement
Cryptocurrency markets are abuzz as President-elect Donald Trump’s Inauguration Day (January 20) inspires new optimism. The best performer among them is Dogecoin, which was the first to push the meme coin into a bullish phase. Dogecoin has surged more than 33% in the past five days, signaling the potential for a significant rebound in the future.
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Dogecoin’s impressive performance reflects its long-term status as the meme coin leader, attracting the attention of both retail and institutional investors. The spike in DOGE’s price is also starting to affect other dog-themed tokens, creating ripple effects throughout the market. Analyst Jelle shared a technical analysis of X, stating DOGE is paving the way Let related tokens like FLOKI follow its upward trajectory.
The resurgence comes amid wider speculation about pro-cryptocurrency initiatives under the new administration, adding to bullish sentiment in the market. As meme coins gain momentum and Bitcoin returns to key levels, Dogecoin’s rise is part of a larger trend that points to significant growth in the cryptocurrency space.
As DOGE continues to move higher, the question remains: Can it lead the meme coin into another historic rally?
Dogecoin expected to rise
Dogecoin (DOGE) is on the verge of a major breakout as bullish momentum around the cryptocurrency builds. Investors are eyeing a restoration of key supply levels, which could signal the start of a massive rebound. Market optimism has grown on expectations that Donald Trump will prioritize cryptocurrency policy after taking office, and he may play a key role in driving interest and investment in digital assets, including DOGE.
Expert Analyst Jelle Recently Shares his insights about Xpredicting that the value of DOGE will soar. “With Trump on the verge of returning to office, the U.S. Governor’s office will soon become a reality,” Jelle commented, hinting that there could be government-level involvement in crypto policies that could benefit cryptocurrencies. This view has fueled the DOGE community, leading to increased trading activity and speculation about upcoming price movements.
Additionally, Dogecoin’s rise is impacting the broader dog-themed token category, with tokens like FLOKI starting to gain traction. With DOGE leading the way, FLOKI and similar assets may follow its bullish trend, further amplifying market enthusiasm. Analysts see these tokens as part of a larger narrative of a crypto resurgence under more crypto-friendly governments.
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If Dogecoin manages to recapture key supply zones, it could pave the way for price gains in the coming weeks. Jelle remains confident in the direction of the coin and expects it to continue rising driven by technical indicators and macroeconomic developments. As DOGE begins to rise, market participants are watching closely, betting on its potential to fuel a broader rally in the cryptocurrency market.
Testing critical supply levels
Dogecoin (DOGE) is currently trading at $0.41, a critical supply level that holds the key to its next major price move. This level has become a key battleground for bulls and bears, as a return to demand territory could set the stage for a strong upward rebound. Analysts say that once DOGE establishes a base at $0.41, the price could surge to last year’s high of $0.48, reigniting bullish momentum.
A break above the $0.48 resistance is expected to open the door to higher targets, with Dogecoin’s all-time high (ATH) becoming a more achievable target. Market sentiment remains positive, with traders keeping a close eye on a potential daily close above the $0.50 threshold. This move would not only confirm the bullish trend, but also mark the beginning of a massive rally that could lead the meme coin market.
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Historically, Dogecoin’s price action has had ripple effects throughout the cryptocurrency space, especially among meme coins. A move above $0.50 could reignite interest in DOGE and similar assets, solidifying its position as a market leader. The coming days could mark a turning point for Dogecoin as momentum builds, with investors eyeing a potentially explosive rally.
Featured image from Dall-E, chart from TradingView
