The crypto market, along with Bitcoin, altcoins, as well as major coins, have seen a strong recovery recently, amid a wave of positive market developments. Fueling speculation, top crypto market experts have shared bullish forecasts for the leading player in the meme coin space, Dogecoin price. Additionally, Donald Trump’s victory also sparked speculation about Elon Musk’s decision to create his Department of Government Effectiveness (DOGE) under his presidency.
Top Expert Predicts Dogecoin Price to Hit $4
In a recent analysis shared on Platform X, popular crypto market expert Ali Martinez said that Dogecoin price is poised to reach $4 in the coming days. Furthermore, he also fueled speculation with his bold predictions of further robust DOGE price rebounds.
Martinez notably said that with Elon Musk’s support for the “now” 47th President of the United States, Donald Trump, DOGE is “set for a wild ride.” He shared historical trends to support his prediction, which, if repeated, could send the meme coin to $4 or above $23.
This bold forecast from the leading expert has sparked optimism among market participants about the good performance of one of the best coins. Echoing this sentiment, another crypto market expert and seasoned trader, Peter Brandt, said that DOGE is on the verge of hitting a new ATH.
Meanwhile, Brandt, while sharing these bold predictions, also mentioned Elon Musk in his post and said, “In Musk We Trust.” It is worth noting that Elon Musk is an active fan of Dogecoin and has already mentioned DOGE several times on social media platforms, thereby triggering the price rise.
Will Elon Musk’s DOGE target the US Fed
Discussions about Elon Musk’s Department of Government Effectiveness or DOGE began with Donald Trump previously offering Musk a cabinet seat if he was elected. However, later, Trump said he did not want to be in the Cabinet, but wanted to lead DOGE, which would focus on reducing federal costs.
The move sparked discussions among market participants, with Elon Musk also sharing a slew of memes about it. Furthermore, the short form of the department has attracted the attention of crypto market enthusiasts, especially the DOGE Communitywhile triggering the rise in Dogecoin prices.
Meanwhile, recently, Musk also said that he would like the ex-congressman Ron Paul and his expertise at his side at the Ministry of Government Effectiveness, which fueled market speculation. Paul also agreed to the proposal, which many see as a move against the US Federal Reserve and its Chairman Jerome Powell.
Ron Paul has been an active critic of the US Fed. He has actively spoken out against any decisions by the US central bank and its spending plans. This also resonates with Tesla’s billionaire CEO, who previously criticized the Fed for delaying cutting interest rates in August of this year, a Reuters report showed.
Furthermore, Musk’s recent political direction has also sparked optimism among market participants. That said, the billionaire’s DOGE initiative is expected to send the price of Dogecoin to its ATH in the coming days.
Notably, DOGE price maintained its upward momentum today and climbed 4% to $0.1986, with a trading volume of $3.81 billion. The meme coin hit a 24-hour high of $0.2016, while Dogecoin Futures open interest increased by 4%, indicating strong market confidence.
Rupam Roy
Rupam is a seasoned professional with three years of experience in the financial market, where he developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently a sub-editor at Coingape, Rupam’s expertise extends beyond conventional boundaries. Its role involves publishing articles, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting relevant economic information. Rupam’s career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with diverse audiences.
Disclaimer: Content presented may include the author’s personal opinion and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
✓ Share: