Here’s Why a 1100% Dogecoin Pump May Be on the Horizon
The firstborn meme coin Dogecoin surged by 1,100% within a week after the inauguration of the U.S. president in 2021.
Dogecoin Mirroring Its 2021 Performance
The accompanying chart shows that Dogecoin’s price rose by 1,107% at the time, soaring from $0.006583 to $0.07291 in January 2021, following President Joe Biden’s inauguration. Interestingly, Cephii indicated that Dogecoin’s 2024 post-election price pattern is almost similar to the 2021 cycle.
This suggests that similar conditions, especially the inauguration of a new administration in the United States, could lead to another jaw-dropping rally of 1,107% for Dogecoin.
At the time of the post, Dogecoin was trading at $0.3441 per token. If Dogecoin replicates its January 2021 post-inauguration performance and soars by 1,107% in the current cycle, its price could increase to $4.1532 after Trump is inaugurated as the 47th president of the United States. This will take its market cap to $613.02 billion from the current value of $50.79 billion.
