The price of Dogecoin has risen by 1% in the past 24 hours and by 3% in the last hour, rising to $0.1945 as the cryptocurrency market resumes its post-Trump victory gains.
DOGE is also up by an impressive 16% in a week and by 81% in a month, with the ever-popular meme coin also having gained by 160% in the past year.
These are impressive percentages, but with DOGE supporter Elon Musk likely to play a key role in the incoming Trump administration, the token could be in for a very strong few months.
This is increasingly the prevailing opinion among professional analysts and trader, with veteran Peter Brandt suggesting that Dogecoin will reach a new ATH very soon.
Legendary Trader Peter Brandt Calls for Dogecoin New High Soon – $10 Next Target?
Posting on X, veteran trader Peter Brandt – who founded international investment firm Factor in 1980 – noted that DOGE has managed a “channel breakout,” and could therefore be about to rally very hard.
As his tweet also mentions, much of the coin’s impetus comes from Elon Musk, who Trump has previously said will lead a committee on government efficiency.
And with Musk appearing in Trump’s first post-election photo (which also included much of the President-elect’s family), there’s very good reason to believe that the tech entrepreneur – who donated around $130 million to the Republican’s campaign – will indeed serve in some capacity within the new Trump administration.
This has understandably led to many people believing that Dogecoin will benefit from Musk’s involvement, as reflected in the coin’s out-performance of the market.
And after correcting a little overnight, Dogecoin’s chart suggests that it’s ready to begin another attempt on its resistance level (red), which is currently at the $0.21 level.
Its indicators signal that it’s regaining some of its momentum from yesterday, with its relative strength index rising from under 40 earlier today to just over 50.
Source: TradingView
It’s likely that the entire crypto market will rally towards the end of the year, and that 2025 could be a bull year.
And if we do see a policy announcement that somehow specifically relates to Dogecoin, the meme token could easily break $1 in the longer term.
New High-Return Meme Tokens
One issue with Dogecoin is that it’s perhaps a little too hot right now, and that its association with Musk may be misleading, insofar as it will not benefit directly from a Trump presidency.
In such a case, traders may be better off looking at other coins for market-beating returns, including newer alts and presale tokens, which can surge when they first list.
One presale coin with very good prospects in this regard is Flockerz (FLOCK), an ERC-20 token that has raised more than $1.2 million since launching its sale last month.
Flockerz is one of the first vote-to-earn cryptocurrencies in the market, one which will rewards holders who participate in governance votes.
Its community will have a say in every decision concerning the project’s development, with the most active participants receiving the most rewards.
And as an ERC-20 coin, holders of FLOCK will also be able to stake it for a passive income, which they will receive in addition to voting rewards.
This combination helps to explain why FLOCK’s sale is already attracting so many investors, and why it’s likely to gain more momentum as the sale comes to an end.
It has a capped supply of 12 billion FLOCK, with 20% of this going to the sale, 25% to staking, and another 25% to governance rewards.
Investors can join FLOCK’s presale by going to its official website, where they buy the coin at a price of $0.0059571.
This will rise again in less than two days, so buyers should act quickly, especially when the price will rise numerous more times before the sale ends.
Buy FLOCK Now
The post Legendary Trader Peter Brandt Calls for Dogecoin New High Soon – $10 Next Target? appeared first on Cryptonews.
