30s Summary

Dogecoin’s value increased by 229% in November following Donald Trump’s election win. Experienced trader Peter Brandt suggests Dogecoin has been following its 2020 “old-school charting principles,” potentially leading to further price increases, with another trader predicting a rise to $3-$4. However, despite initial excitement about Trump appointing Elon Musk and Vivek Ramaswamy to lead the Department of Government Efficiency (D.O.G.E), Dogecoin’s price surged to $0.44 then fell back to $0.34, indicating possible sell-offs. Currently, Dogecoin’s price focus is around the $0.30 to $0.326 range.

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Dogecoin had a pretty great November. After Donald Trump won the US elections, the Dogecoin rally zoomed ahead. In just the past month, its value surged by 229%.

Here’s a cool fact – Dogecoin’s market structure witnessed a major overhaul at $0.37, a level last noted in October 2021. The fast shift means Dogecoin’s price could jump even higher if it follows its past trend.

Seasoned trader, Peter Brandt, has been keeping a keen eye on Dogecoin. According to him, Dogecoin has been following “old-school charting principles,” pretty much like how it behaved in 2020, leading to a promising increase in its price.

A fellow crypto trader going by the name of Mikybull also threw in his two cents. According to him, Dogecoin could reach a price as high as $3 to $4, making for an increase of around 1,136%.

Now, let’s look at more recent happenings. On November 12, Dogecoin’s price reached a peak of $0.44 but slipped by 22% to $0.34 in the next four hours. After that, it’s been moving back and forth between $0.44 and $0.34.

This came as a surprise since many were expecting a positive market reaction after Donald Trump put Elon Musk and Vivek Ramaswamy at the helm of the Department of Government Efficiency (funnily abbreviated as D.O.G.E). Crypto trader Jacob Canfield thinks this lack of reaction might be a sign of more people selling off their Dogecoin.

If we look at the graphs, you’ll see that Dogecoin’s focus currently lies in the $0.30 to $0.326 range. Going below the $0.30 level, an order block between $0.272 and $0.297 could provide the necessary support for Dogecoin’s price to bounce back.

But remember, investing always involves a certain degree of risk. Do your homework before you make any decisions.