$DOGE has been attracting renewed attention in the crypto market, especially after Elon Musk promoted a concept called the "Department of Government Efficiency" (DOGE), linked to his proposal to reduce public costs. This coincidence has sparked enthusiasm among investors, boosting the price of Dogecoin by 75% recently, reaching US$ 0.16 in October 2024. Analysts see the potential for growth in Dogecoin, with targets around US$ 1 to US$ 2 in the next cycles, but also point to significant volatility, with resistance at US$ 0.18 and support near US$ 0.14 and US$ 0.12​#$$DOGE $

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A possible victory by Donald Trump in 2024 could further strengthen Musk's support for the currency, considering the businessman's affinity for proposing a new approach to government. If Trump wins, Dogecoin is expected to experience a surge in popularity and even appreciation, as Musk plays an essential role in Dogecoin's narrative and market value. However, with the volatility of cryptocurrencies and the influence of external factors, it is advisable for investors to remain cautious and monitor the scenario.

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