{"id":595214,"date":"2024-11-06T11:42:07","date_gmt":"2024-11-06T11:42:07","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=595214"},"modified":"2024-11-06T11:42:07","modified_gmt":"2024-11-06T11:42:07","slug":"dogecoin-price-soars-26-as-election-results-so-far-show-trump-lead-and-this-pepe-2-0-closes-on-25-million","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-soars-26-as-election-results-so-far-show-trump-lead-and-this-pepe-2-0-closes-on-25-million","title":{"rendered":"Dogecoin Price Soars 26% As Donald Trump Wins US Presidency And This PEPE Upgrade Zooms Past $25 Million"},"content":{"rendered":"

The Dogecoin price surged 26% in the last 24 hours <\/span>to trade at $0.2045<\/span><\/a> as of 02:37 a.m. EST on trading volume that skyrocketed 227% to $10.3 billion.<\/span><\/p>\n

This comes as Donald Trump is set to become president for the second time after defeating Kamala Harris in the US election. Trump has promised to be ”crypto president” and Dogecoin may be a big winner if Trump appoints DOGE fan Elon Musk to head a Department of Government Efficiency (DOGE) in his administration.<\/span><\/p>\n

Dogecoin Price Could Continue Soaring<\/h2>\n

According to the DOGE\/USD chart analysis, the Dogecoin price is currently capitalizing on the cup and handle pattern, formed as DOGE found support within the $0.096 support, according to data from <\/span>GeckoTerminal<\/span><\/a>.<\/span><\/p>\n

The uptrend has pushed the price of Dogecoin to now trade above both the 50-day and 200-day Simple Moving Averages (SMAs), which is an indication that the price may continue soaring. Moreover, the 50-day SMA has now surpassed the 200-day SMA, which has now formed a golden cross around $0.128.<\/span><\/p>\n

Meanwhile, the Relative Strength Index (RSI) is currently at 76.28, which is above the 70 level, signaling overbought conditions. When the RSI is above 70, it suggests that buying pressure has been strong, potentially driving the asset to levels where a pullback or consolidation might occur.<\/span><\/p>\n

The MACD line (blue) is above the Signal line (orange), which is a bullish configuration, indicating upward momentum. Additionally, the MACD histogram bars are positive, reflecting growing buying pressure.<\/span><\/p>\n

\"Dogecoin
DOGE\/USD Chart Analysis Source: GeckoTerminal<\/figcaption><\/figure>\n

Dogecoin Price Prediction<\/h2>\n

Overall, the DOGE\/USD chart on the 1-day timeframe indicates a strong bullish trend, as the Dogecoin price moves towards a bullish rally. If this momentum sustains, the price of Dogecoin could rise, as they target $0.26.<\/span><\/p>\n

The RSI now shows that DOGE is overvalued and overextended, which may indicate an incoming price correction. In this scenario, the DOGE price plunges, the 50-day SMA at $0.1287 could act as the next possible support level.<\/span><\/p>\n

Meanwhile, as meme coins soar, investors are also rushing to buy a Pepe alternative called <\/span>Pepe Unchained (PEPU)<\/span><\/a>, which has just blasted past $25 million in presale.<\/span><\/p>\n

According to 99Bitcoins, a YouTube channel with over 706K subscribers, this new meme coin could potentially surge by 100X following its launch.<\/span><\/p>\n