{"id":597511,"date":"2024-11-13T07:49:08","date_gmt":"2024-11-13T07:49:08","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=597511"},"modified":"2024-11-13T07:49:08","modified_gmt":"2024-11-13T07:49:08","slug":"dogecoin-price-prediction-doge-surges-12-after-trump-names-elon-musk-to-head-new-department-of-government-efficiency-as-traders-flock-to-this-politifi-ico-for-10x-gains","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/dogecoin-price-prediction-doge-surges-12-after-trump-names-elon-musk-to-head-new-department-of-government-efficiency-as-traders-flock-to-this-politifi-ico-for-10x-gains","title":{"rendered":"Dogecoin Price Prediction: DOGE Surges 12% After Trump Names Elon Musk To Head New Department Of Government Efficiency As Traders Flock To This PolitiFi ICO For 10X Gains"},"content":{"rendered":"

The Dogecoin price <\/span>surged<\/span><\/a> over 12% in the last 24 hours to trade at $0.3947 as of 11:19 p.m. EST as traders FOMO buy into the leading meme coin.<\/span><\/p>\n

The surge in the <\/span>DOGE<\/span><\/a> price comes after US president-elect Donald Trump announced that he has chosen Tesla CEO Elon Musk and Vivek Ramaswamy to lead his Department of Government Efficiency (D.O.G.E.).<\/span><\/p>\n

“Together, these two wonderful Americans will pave the way for my Administration to dismantle Government Bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure Federal Agencies,” he <\/span>wrote<\/span><\/a> in his announcement.<\/span><\/p>\n

Dogecoin Price Consolidates<\/span><\/h2>\n

\"DOGE<\/p>\n

4-hour chart for DOGE\/USD (Source: <\/span>GeckoTerminal<\/span><\/a>)<\/span><\/p>\n

The Dogecoin price has consolidated between $0.3396 and $0.4091 in the last few hours. This could be a brief accumulation phase before the next leg up. If this is the case for the meme coin, its price might soon flip the $0.4091 resistance into support to pave the way for further gains. Bulls could then have the room needed on DOGE’s charts to push the altcoin to $0.4902.<\/span><\/p>\n

On the other hand, a breakdown below the $0.3396 support within the next 12 hours might bring an end to the meme coin’s bullish streak. Traders could end up realizing their profits from the recent <\/span>Dogecoin<\/span><\/a> price rally, which could put the meme coin at risk of correcting all the way down to $0.2643.<\/span><\/p>\n

Technicals Warn Of A Potential Pullback In The Dogecoin Price<\/span><\/h2>\n

Technical indicators on DOGE’s 4-hour chart warn the altcoin might undergo a correction soon. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators are starting to show bearish signs.<\/span><\/p>\n

Firstly, the MACD line is falling towards the MACD Signal line on the 4-hour chart. Traders might interpret this narrowing gap between the two technical indicators as a sign of DOGE’s bullish trend coming to an end. A cross between the MACD and MACD Signal line might confirm this, which could be followed by a drop in the Dogecoin price.<\/span><\/p>\n

Meanwhile, RSI readings have dropped in the last 24 hours to indicate a decrease in buying power. Although the current reading at 76 suggests that bulls are still in control, the high reading  warns that DOGE is overbought. Oftentimes, high RSI readings are seen as a sell signal because they suggest a crypto’s downside potential is greater than its upside potential.<\/span><\/p>\n

As the Dogecoin price consolidates amid Trump’s appointments, investors are rushing to buy new PolitiFi token <\/span>FreeDum Fighters (DUM)<\/span><\/a> for post-election gains.<\/span><\/p>\n

Round Two Of The US Election Happening On-Chain<\/span><\/h2>\n

FreeDum Fighters (DUM) offers a lighthearted take on the US presidential election. Although the major event has concluded, with Trump emerging victorious, Kamala Harris fans can still record a win through the on-chain political clash taking place at the heart of the project.<\/span><\/p>\n

In one corner is the Trump-linked Magatron, and in the other is Kamacop, representing Harris. Backers of each character stand to unlock impressive staking rewards.<\/span><\/p>\n

Magatron is currently offering its supporters a 266.99% staking APY. Meanwhile, Kamacop is offering her loyal backers a much higher 660.05% APY.<\/span><\/p>\n

With the election over and pro-crypto Trump taking the White House for a second term, experts and analysts are bullish on DUM. Influential YouTuber Jacob Bury told his more than 43K subscribers that the new DUM token might soar 10X after its launch.<\/span><\/p>\n