The Department Of Government Efficiency (D.O.G.E.) meme coin is gaining steam, with traders predicting further upward movement ahead of the eponymous government agency launching under the Trump administration.
What Happened: Crypto trader Unipcs highlighted a reversal playing out for the meme coin, potentially setting the stage for the next rally. D.O.G.E is up 48% over the past 24 hours, trading around a valuation of $140 million.
After reaching all-time highs, D.O.G.E underwent an 82% correction over six weeks—a pattern commonly observed in meme coins.
This sharp decline followed a parabolic 4,000% rally within a month, which itself came after a two-month phase of correction and consolidation.
Over the last month, the D.O.G.E. meme coin dropped 48.7%, reflecting market volatility but also laying the groundwork for a potential rebound.
What's Next: The Department of Government Efficiency is poised to play a key role in shaping Trump's administration policies, drawing public attention and fostering narratives around efficiency and reform.
Traders anticipate the launch event could act as a major driver for both the Department of Government Efficiency meme coin and Dogecoin (CRYPTO: DOGE), fueling speculative momentum and increasing visibility for both coins.
Dogecoin is up 6.6% over the past 24 hours.
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