Dogecoin Smashes $0.2 While TRUMP Soars by 25%—Here’s What’s Next for These Tokens
The post Dogecoin Smashes $0.2 While TRUMP Soars by 25%—Here’s What’s Next for These Tokens appeared first on Coinpedia Fintech News
Dogecoin is outperforming the market as Donald Trump leads the race to the White House. Moreover, the volume over Bitcoin surged above $81 billion, almost doubled compared to the previous day, resulting in a new ATH at $75,000. With this move, Dogecoin surpassed XRP for a while to become the 7th largest crypto by the market cap. Besides, MAGA (TRUMP) price has launched a massive upswing with a huge rise in the trading volume
Now that the prices of DOGE & TRUMP are going vertical, here’s where these tokens may find new highs.
The Dogecoin price has triggered a massive rise of nearly 30% since the early trading hours after maintaining a strong ascending trend from the October lows. The volume increased by more than 200%, reaching close to $10 billion for the first time since the 2021 bull run. With the large influx of volume, the price is expected to trigger a strong breakout above the multi-year trend line in a short while from now.
The recent move has assisted the DOGE price to break above the multi-year descending trend line after accomplishing a parabolic recovery. The price has broken the resistance as it did back in 2021. Hence, if a similar rise occurs, then the Dogecoin price may range way high beyond $1 in the next few months. The RSI is incremental and trying to enter the overbought range. As a result, the price is believed to maintain a healthy run hereafter.
On the other hand, TRUMP also experienced a similar rise in volume, which has elevated the levels close to the pivotal resistance.
The price is attempting to enter the crucial ascending triangle as the latest pump elevated the levels from the consolidation around $3.3. Meanwhile, the bears are trying to restrict the levels below $4.5, due to which the bulls and bears have ended up in a power struggle. However, the technicals have turned bullish, with the RSI rising above the average and the MACD about to undergo a bullish crossover. Therefore, the MAGA (TRUMP) price is expected to rise above $5, which could revive a strong rise towards a double-digit figure.