Dogecoin (DOGE-USD) is in the midst of a major uptrend, with traders predicting it could a much higher rise than expected. According to pseudonymous trader Bluntz, DOGE is in a “monstrous uptrend” and could skyrocket higher than many think. Bluntz predicts that DOGE/BTC will rise 373%, hitting an all-time high this cycle. He is also bullish on Bitcoin, predicting that it could reach over $100,000, which would push the price of DOGE even further, potentially reaching $2.20 per coin. This bold prediction has some traders looking at DOGE in a whole new light.
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Elon Musk and December 5 could trigger a price surge
Interest around Dogecoin is also linked to a key event on December 5th. On that day, Elon Musk and Vivek Ramaswamy will meet with US lawmakers in Washington, DC, to present proposals under the Department of Government Effectiveness (DOGE). Musk’s influence has already proven to have driven up the price of Dogecoin, with a 15% increase following the department’s announcement and an additional 120% increase shortly after.
Musk’s Moves and Speculations Continue to Drive Dogecoin’s Growth
Dogecoin’s recent rise is no coincidence. It’s a mix of strong speculative interest and Musk’s active role in the coin’s development. From the “Trump trade” to Musk’s leadership in the DOGE departmenteach movement had a significant impact on the value of DOGE.
At the time of writing, Dogecoin stands at $0.4130.
