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Journalist
Hassan Shittu
Journalist
Hassan Shittu
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Dogecoin’s price recently soared by 20% after President-elect Donald Trump announced plans for a new government body, the Department of Government Efficiency (DOGE), which will be led by tech giants Elon Musk and Vivek Ramaswamy.
With Dogecoin’s price rising 250% over the past 30 days, it’s greatly outperformed Bitcoin, which has only seen a 40% increase over the same period.
DOGE’s impressive rally has pushed the DOGE/BTC trading pair above a long-standing descending trendline, hinting at a breakout and potential new highs.
Dogecoin Bullish Ahead of Trump’s Inauguration: Holders Simultaneously Eyeing a New Coin
Crypto analyst KALEO recently shared that the DOGE/BTC chart shows strong indications of a continued uptrend.
According to his technical analysis, Dogecoin’s price action mirrors the setup from early 2021, just before it embarked on a remarkable 175% rally to its all-time high of $0.7316.
He noted that the breakout above a higher timeframe (HTF) resistance level has set a promising foundation for future gains, suggesting that Dogecoin could experience another similar rally.
KALEO’s technical breakdown of the DOGE/BTC trading pair highlights a steady downtrend since 2021, with the price steadily creating lower highs and lower lows.
However, the recent breakout above the HTF descending trendline signals a potentially massive reversal.
This breakout is reminiscent of early 2021, right before Dogecoin’s historic rally to its all-time high.
KALEO further emphasized that recent macro events, Dogecoin’s price resilience, the market’s renewed interest following Trump’s election, and Musk’s renewed support have all set the stage for a big rally.
“With how strong Dogecoin has shown after Trump’s election and Elon’s push, it wouldn’t be surprising to see another breakout soon,” he said.
Other analysts have noted an accumulation phase in the DOGE/BTC pair after the breakout, indicating investor confidence.
This accumulation phase—just above a key resistance level—often acts as a launchpad for rallies, suggesting Dogecoin may be gearing up for another major price movement.
Market factors and Bitcoin’s rally could further propel DOGE upwards, amplifying the bullish momentum.
FreeDum Fighters: The Rising PolitiFi Coin Gaining Attention Alongside Dogecoin
In the shadow of Dogecoin’s rally, especially its close movement with the current US political landscape, FreeDum Fighters ($DUM) is a new player getting very similar attention to Doge.
This token has drawn attention due to its unique positioning within the political sector.
It taps into the wave of influence triggered by Trump’s recent election and his bold plans to integrate blockchain into government operations.
The PolitiFi token, which was recently launched, has been rising in popularity, and analysts have forecasted a strong trajectory for $DUM due to its politically charged narrative and community-driven approach.
While $DUM may not have the legacy of Dogecoin, it is sure to get similar attention to Doge and closely aligns with the narrative.
$DUM joins other trending PolitiFi coins like PEOPLE, MAGA, and TRUMP, but its unique narrative and structure stand out.
FreeDum Fighters is a satirical token that allows investors to participate in mock elections, vote for their favorite characters, and participate in debates.
Investors in $DUM can join contests and enjoy rewards, actively engaging in the token’s unique PolitiFi ecosystem.
FreeDum Fighters provides a fun way for investors to participate in the US political landscape. It combines humor with political satire and community interaction with gamified rewards.
The presale of $DUM has raised over $420,000, and experts predict potential returns of up to 10x for early investors.
FreeDum Fighters lets investors back AI-powered candidates like MAGATRON, a cyborg Trump, and Kamacop 9000, a robotic Harris.
Analysts predict that politically aligned assets like $DUM could grow exponentially, especially as they gain traction among political enthusiasts and crypto investors.
$DUM may be the next big name in meme tokens, potentially setting a path for 100x growth by 2025.
Investors willing to capitalize on the presale steal price are urged to get it now before it ends.
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
