Dogecoin And Trump Inauguration: Why The Next 7 Days Are Very Important

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According to crypto expert Master Kenobi’s latest insights, the upcoming events surrounding Donald Trump’s inauguration may significantly influence Dogecoin‘s current market trends. He predicts that the following week could hold crucial developments for Dogecoin’s price.

What Could Happen To Dogecoin Amid Donald Trump’s Inauguration

In a recent X post, Master Kenobi disclosed that Dogecoin has been shaping a symmetrical triangle which is expected to conclude on January 20 – the same day Donald Trump was inaugurated. This suggests that the coming week could be crucial, as this political event might influence whether or not DOGE escapes from this triangle, potentially leading to an upward movement.

According to the analyst’s chart, Dogecoin might initially surge to around $0.50 if it successfully breaks free from this symmetrical triangle. Additionally, a rise to $0.55 and even reaching its previous record high of $0.74 are plausible possibilities. Furthermore, expert Master Kenobi forecasts that Dogecoin could potentially reach the highly anticipated $1 mark in the future.

As a crypto investor, I had previously speculated that Dogecoin could potentially hit a new high around the time of Donald Trump’s inauguration. This prediction was based on a 77-day timeline between its previous local top and the next potential peak, as well as the idea that Trump’s inauguration might create a surge in interest for the leading meme coin.

Apart from Trump’s supportive stance on cryptocurrencies, the inauguration of the US president-elect is also advantageous for Dogecoin as Elon Musk’s Department of Government Efficiency (D.O.G.E) will now be established. This development creates a bullish trend for DOGE since the meme coin served as inspiration for this government department’s name, hinting at its potential role in the administration.

Additionally, it’s worth noting that Musk actively supports Dogecoin and often subtly promotes the meme currency by occasionally referencing “D.O.G.E” in his statements.

DOGE Is In The Midst Of A Surge

In a recent post on X, cryptocurrency analyst Trader Tardigrade expressed a positive viewpoint about Dogecoin, indicating that it’s currently experiencing an upward trend. This prediction stems from his observation that DOGE is following the 50 Arnaud Legoux Moving Average (ALMA). He further noted that this pattern mirrors the one observed during the cycle from 2018 to 2020. In light of this, Trader Tardigrade suggested that Dogecoin’s current surge may continue.

Currently, a crypto expert is of the opinion that Dogecoin’s market peak during this cycle is yet to be reached. He supports this view by referring to Dogecoin’s Bollinger Bandwidth (BBW), which indicates there’s potential for further growth before it hits its upcoming high. His chart illustrates that the popular meme coin could potentially soar above $5.

Currently as I’m typing this, the value of Dogecoin stands roughly at $0.32, having dropped nearly 4% over the past day, based on information from CoinMarketCap.

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2025-01-14 01:11