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The Department of Government Efficiency price surged 19% in the last 24 hours to trade at $0.4128 as of 3.45 a.m EST on trading volume that surged 26% to $76.41 million.
The DOGE token was inspired by Donald Trump’s idea to create a new department that would be spearheaded by Elon Musk to focus on government efficiency. With that being the case, Trump’s victory in last week’s US presidential election resulted in a major price surge for the token.
WE DID IT!!! 🫡🇺🇸🚀
The American voters have spoken and with Donald Trump as President, we will see Elon Musk as the head of the Department of Government Efficiency!!!!
The next stage of our journey starts NOW!
Join us on this journey as Elon and The DOGE cut their way through… pic.twitter.com/Hzf2vKGVPN
— Department Of Government Efficiency Community (@doge_eth_gov) November 6, 2024
The project saw its price skyrocket by over 500% in a single week. However, the sharpest surge took place in the last day and a half or so, as Elon Musk made his move by discussing the plans he had for the new department.
According to Musk, the magnitude of government waste and overspending is “staggering,” and so he plans to use the new department to put an end to it and help the economy recover.
Department Of Government Efficiency Price Prediction
Over the last 24 hours, the DOGE price has been struggling to reach the resistance at $0.50, and while it successfully managed to climb to this level several times, it failed to breach it and turn it into a support. Each rejection has sent the token to a support at $0.40, but the token has been seeing enough buying pressure to keep coming back and re-test the resistance.
However, Its technical indicators suggest that the buyers are not giving it their all as of yet, likely hesitant due to Bitcoin’s recent price rejection from a new resistance at $92k. The token’s Bollinger bands have remained relatively wide, however its price, which previously pushed the upper band, saw a sharp decline to the lower band in the past six hours. Now, it is ready to bounce back up, and the move has already started.
This is also evident from the project’s Relative Strength Index (RSI) value, which has been fluctuating around the neutral value of 50, bouncing up and down from 40 to 60. After following this pattern for around 18 hours now, the RSI is finally making its move, as the bulls are starting to push back, increasing the buying power once again.
This could bring DOGE back above the value of $0.45 in the next few hours. However, it still remains to be seen if the project has the strength to surge up to $0.50 for the third time in the last 24h.
Promising Alternative To Department of Government Efficiency
As DOGE soars, popular PolitiFi project FreeDum Fighters (DUM) has just blasted past $500k in funds raised in its presale.
FreeDum Fighters parodies the US presidential election, offering investors the chance to vote (stake) for either MAGATRON, inspired by Donald Trump, or KAMACOP, inspired by Kamala Harris.
Magatron is offering an annual staking return of 257% while Kamacop offers a huge 619%.
But the showdown between MAGATRON and Kamacop 9000 is just the beginning, with the project planning to introduce more political figures into the fray.
One figure likely to join the MAGATRON party is Doge, the personification of the new Department of Government Efficiency in the Trump administration. Dark MAGA has, indeed, already made an appearance in the site art.
The platform will continue to have two staking pools, with new figures joining the “parties.”
By shifting its focus to the second battle, the project has demonstrated its potential to draw from an endless pool of political conflicts, thus confirming its long-term value.
However, even before that, experts like crypto YouTuber ClayBro, who has over 131k subscribers, insisted that FreeDum Fighters has at least 25x potential.
DUM tokens are selling for only $0.00008 apiece and can be bought with ETH, USDT, USDC, BNB, SOL, or BASE. Buy before a price hike in less than 3 days for the best deal.
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