Dogecoin (DOGE) Could Spike to $1 If Trump Wins the Election: Here's Why

Dogecoin is the biggest gainer in the cryptocurrency market after seeing a 6.47% boost in price over the last day. Its trading volume has also risen by

Cryptocurrency prices today saw a mixed trend as the biggest digital asset, Bitcoin, remained above the $24,000 level, while Dogecoin saw a significant gain following a bold prediction from a crypto analyst.

Among the top cryptocurrencies, Dogecoin saw the biggest gain with a 6.47% rise in price over the last day. Its trading volume also saw a moderate increase of 21.03%.

This rally comes as crypto analyst Satoshi Flipper shared a bold prediction for DOGE on X (formerly Twitter). According to Flipper, a Trump victory in the next U.S. presidential election could propel Dogecoin to the $1 mark, driven by social media momentum and potential political support.

This prediction suggests that a Trump win might lead to increased attention on Dogecoin, potentially boosting its price through social media hype and the narrative around the token.

A close examination of Satoshi Flipper's chart reveals a bullish prognosis for Dogecoin. A possible change in momentum is indicated by the large descending triangle pattern that recently broke out to the upside.

According to the chart, this breakout signals increased buying interest, supported by historical patterns where similar consolidations led to upward price movements. Key support is identified around $0.05, a level that has acted as a floor during previous corrections.

The next major resistance level is near the $1 mark, highlighted by a bold black line on the chart. This level serves as both a psychological barrier and a key target, as DOGE has yet to reach this price in past bull runs, with its previous peak being around $0.70 in 2021.

A dotted arrow path on the chart envisions a steady climb for Dogecoin, projecting a potential route to $1 if the bullish trend persists. However, a red “X” marker on the chart indicates a cautionary note, as DOGE's price encountered resistance at this level previously.

Traders might anticipate potential retracements along the way, especially at key resistance levels. Currently, Heikin Ashi candles on the weekly chart show green, indicating sustained upward momentum and a generally positive trend for Dogecoin.

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