Hold onto your wallets, folks! Dogecoin (DOGE) just pulled a Houdini and jumped a whopping 13% in just 15 minutes! 🎩✨ All thanks to the US Government Efficiency Department (DOGE) finally getting its act together and launching an official website. Who knew government efficiency could be so… efficient? 😂
D.O.G.E’s Dogecoin logo propels DOGE price
So, what’s the scoop? Well, it seems the price of DOGE decided to throw a party after the Elon Musk-led agency, the Department of Government Efficiency (DOGE), decided to grace us with its official website on January 21. 🎉
And guess what? The Dogecoin logo is front and center! Because nothing screams “official government” like a meme coin logo, right? The .gov website even has a dollar sign and the slogan “The people voted for major reform.” I mean, who needs serious policy when you have a cute doge? 🐶💰
During his inauguration speech, President Trump declared that his administration would establish the Department of Government Efficiency to “restore competence and effectiveness to our federal government.” And then, like a magician pulling a rabbit out of a hat, he issued an executive order to make it official. Ta-da! 🎩✨
Just the day before, DOGE was down 10%, but then it pulled a classic “hold my beer” move and skyrocketed 20% from an intra-day low of $0.33 to a high of $0.40. Talk about a comeback! 🥳
And let’s not forget about the other DOGE token, the Department Of Government Efficiency (dogegov.com) (DOGE), which is also partying hard with a 35% increase in the last 24 hours. It’s like a DOGE family reunion! 🎊
Analysts are scratching their heads and suggesting that this event is boosting Dogecoin’s visibility and perceived value. Because, you know, nothing says “legitimate currency” like a government website using a meme logo. 😂
Social media is buzzing with surprise and amusement, making this news go viral faster than a cat video. “@DOGE official website is now live. It’s using the $DOGE logo on their website,” tweeted trader Cas Abbe. Who knew government websites could be so… meme-tastic? 🐱👤
“The US government is now officially shilling memecoins and you still think memecoin supercycle won’t happen.”
Crypto YouTuber CryptoRover chimed in, “The memecoin madness continues. This will be the biggest bull market of our lives.” Well, if that’s not a vote of confidence, I don’t know what is! 💪
DOGE’s bull flag points to new all-time highs
Dogecoin has been the belle of the speculative trading ball since early November 2024, and the price action is hinting at a significant upward movement. It’s like watching a soap opera, but with more money involved! 💸
The chart below suggests an impending breakout from a bull flag, which could lead to a massive move upward. And no, this isn’t a new dance move! 💃
A bull flag is a bullish continuation setup that forms after the price consolidates inside a down-sloping range following a sharp price ascent. It’s like a rollercoaster ride, but with less screaming and more dollar signs! 🎢💵
The pattern will resolve after the price breaks above the upper trendline of the flag at $0.37, potentially rising as much as the previous uptrend’s height. This puts the upper target for DOGE price at $1.61, marking a 340% price uptick for our favorite memecoin. Can I get a “woof woof”? 🐕💰
DOGE’s weekly relative strength index is still in the positive region at 62, suggesting that the market conditions still favor the upside. It’s like a pep rally for DOGE! 📣
“Dogecoin is breaking out of a Trendline, and the RSI shows corresponding Bullish momentum,” said technical analyst Trader Tardigrade. Sounds like a fancy way of saying, “Get ready for the ride!” 🎢
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2025-01-21 17:18