We have seen the cryptocurrency market get back on its feet. The OG meme cryptocurrency, Dogecoin (DOGE), has not stayed away. The asset saw a notable rise over the past day. This further led the community to believe that the asset might also continue its current trend over the coming days.
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Dogecoin rises to the top
Over the past 24 hours, the price of DOGE has jumped almost 5%. The meme coin rose from $0.3429 to a high of $0.3645. At the time of writing, Dogecoin was suffering a slight setback and was trading at $0.3608.
Many have linked this rally to Donald Trump. The president-elect will be sworn in on January 20. Pro-crypto President Trump is expected to bring several changes to the Bitcoin-led ecosystem. As the world gets closer to the inauguration date, the market seems to be getting more and more bullish, and DOGE is certainly an integral part of that.
Despite its latest rally, Dogecoin’s monthly loss stands at -10.77%. Additionally, the meme coin continues to trade 51% below its all-time high. The asset reached a high of $0.7376 in 2021. This was the same year Joe Biden was sworn in as President of the United States.
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Price prediction
Dogecoin will suffer a slight setback on January 20, according to the popular CoinCodex platform. The OG meme coin will trade at around $0.360455. The highest price level Dogecoin will trade at is $0.365076. This marks a slight peak of 0.92%.
Although the asset is moving slowly at the moment, it could see a spike over the next few days of the month. Trump’s inauguration is expected to push the price of Dogecoin even higher.
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