One analyst outlined the possibility of DOGE reaching $30+ by Jan. 19, 2025, based on historical performance.
Dogecoin (DOGE) has rallied another 27% this week, reaching a new yearly high of $0.48 on Nov. 23.
The memecoin’s monthly gains are a whopping 236%, and it remains the third-highest traded crypto asset based on 24-hour trading volumes with $19.5 billion.
Top 5 crypto 30-day returns chart. Source: CoingGecko
One analyst says DOGE could rally 5,000% from its current price, based on a Gaussian channel analysis.
Following a 159% rise between Nov. 6 and Nov. 12, Dogecoin (DOGE) has exhibited a period of higher-range consolidation. On Nov. 18, the largest memecoin completed a daily bullish engulfing candle, which welcomed market speculations for its next ascend near its all-time high of $0.73.
Dogecoin 1-day chart. Source: TradingView
With the market turning its attention toward DOGE again, one particular indicator highlighted its historical probability of undergoing another parabolic rally over the next few weeks.
The ‘DOGE’ department proposed by Elon Musk could allow the Tesla CEO to divest many of his assets and defer paying taxes.
Tesla CEO and the world’s richest man, Elon Musk, could get a deferment on potentially billions of dollars worth of federal taxes if he begins working for the United States government under President-elect Donald Trump.
Trump announced on Nov. 12 that Musk and Vivek Ramaswamy — a Republican rival-turned-ally — would be heading the ‘Department of Government Efficiency,’ or DOGE, once he took the oath of office on Jan. 20. The president-elect claimed that Musk — worth roughly $300 billion — and Ramaswamy would help “cut wasteful expenditures” in the federal budget.
Despite the name, only an act of Congress can establish a new government department, suggesting that DOGE may operate as more of an advisory commission. However, Republicans will hold a majority in the Senate and House of Representatives starting in 2025, meaning they could seemingly pass legislation creating a new department if desired.
A pack of Dogecoin investors who claimed Elon Musk rigged DOGE are dropping their appeal following a judge’s ruling against their case in August. Disgruntled DOGE investors first sued Musk in 2022, accusing the Tesla CEO of orchestrating a pump-and-dump scheme with his public praise of Dogecoin on Twitter (now X) and Saturday Night Live. In August, […]
The post Lawsuit Appeal Alleging Elon Musk Manipulated Dogecoin (DOGE) Dropped: Report appeared first on The Daily Hodl.
Tesla CEO Elon Musk is often associated with Dogecoin after the businessman mentioned the memecoin on various channels in 2021.
A 2022 class-action lawsuit filed against Elon Musk and Tesla — alleging that the businessman manipulated the price of Dogecoin (DOGE) through media appearances and social media posts — was withdrawn by the plaintiffs on Nov. 14, 2024.
According to the legal filing, the plaintiffs have agreed to withdraw their appeal from the Second Circuit Court of Appeals and not seek any post-judgment relief from Musk and the automotive company.
Lawyers for the investors also waived their right to appeal the case in any United States court, and both sides have agreed to drop motions to sanction the other side over the lawsuit.
Elon Musk’s DOGE initiative invites the public to expose government waste, pledging transparency and targeting $2 trillion in federal spending cuts. Elon Musk’s New Plan: Public Can Now Expose Wasteful Spending and Misplaced Cuts Tesla CEO Elon Musk shared his vision for full transparency within the newly created Department of Government Efficiency (DOGE) on his […]
President-elect Donald Trump has appointed Elon Musk and Vivek Ramaswamy to lead DOGE, tasked with dismantling bureaucracy, slashing regulations, and restructuring federal agencies. Trump Appoints Elon Musk and Vivek Ramaswamy to Overhaul Federal Bureaucracy U.S. President-elect Donald Trump issued a statement on Tuesday regarding his ambitious plans to streamline federal bureaucracy, announcing that Elon Musk […]
Elon Musk is coordinating to import Argentine President Milei’s chainsaw model to the U.S. Milei recently stated that his Minister of De-Regulation and State Transformation, Federico Sturzenegger, had coordinated with Musk to replicate Argentina’s model. Elon Musk Would Import Milei’s Chainsaw Model to the U.S. Experts from all over the world are examining the actions […]
Elon Musk envisions the Department of Government Efficiency (DOGE) cutting $2 trillion from federal spending, aiming to free Americans from excessive taxation and government overreach. Elon Musk’s Vision: $2T DOGE Cuts to Propel America to Unseen Heights Tesla CEO Elon Musk revealed on Sunday during a Donald Trump rally held at Madison Square Garden that […]
Electric vehicle giant Tesla likely still holds $772.5 million in Bitcoin (BTC), according to the crypto deanonymizing platform Arkham. Last week, Arkham flagged a series of on-chain transactions indicating Tesla had moved its trove of 11,509 BTC for the first time in two years. However, the receiving addresses appear to be new wallets owned by […]
The post Elon Musk’s Tesla Still Holding $772,500,000 in Bitcoin in Seven Wallets After Massive Coin Shuffle: Arkham appeared first on The Daily Hodl.
