The cryptocurrency market was seen getting back on its feet. The OG meme cryptocurrency, Dogecoin (DOGE), did not sit on the sidelines. The asset recorded a notable surge over the past day. This further led the community to believe that the asset could carry its ongoing trend over the next few days as well.
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Dogecoin Rises To The Top
Throughout the last 24 hours, the price of DOGE has surged by nearly 5%. The meme coin went from trading at $0.3429 all the way to a high of $0.3645. At the time of writing, Dogecoin was enduring a slight setback and was trading at $0.3608.
Several linked this rally to Donald Trump. The President-elect will be sworn in on January 20. The pro-crypto President Trump is expected to bring about several changes in the Bitcoin-led ecosystem. As the world inches closer to the date of the inauguration, the market seems to be getting increasingly bullish, and DOGE is certainly an integral part of it.
Despite its latest rally, Dogecoin’s monthly loss stands at a negative 10.77%. In addition, the meme coin continues to trade 51% below its all-time high. The asset hit a peak of $0.7376 back in 2021. This was the same year that Joe Biden was sworn in as the President of the United States.
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Price Prediction
Dogecoin will endure a slight setback on January 20, according to prominent platform CoinCodex. The OG meme coin will trade at around $0.360455. The highest price level that Dogecoin will trade at is $0.365076. This marks a dainty spike of 0.92%.
While the asset is moving slowly at the moment, it could witness a spike throughout the next few days of the month. Trump’s inauguration is expected to push the price of Dogecoin further.
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