TL;DR
- DOGE has been on a tear, with analysts predicting gains to as high as $2.
- The meme coin market cap has reached almost $130 billion, with Dogecoin leading the charge alongside strong performances from Shiba Inu (SHIB), Bonk Inu (BONK), Brett (BRETT), and Ponke (PONKE).
Is DOGE Gearing up for a Further Pump?
Dogecoin (DOGE) has been on fire in the past month, with its price skyrocketing by 170%. Last week, it tapped a three-year high of over $0.43, while currently, it trades at approximately $0.38 (CoinGecko’s data).
One element possibly contributing to its impressive performance is Elon Musk’s interaction. Tesla’s CEO promised to lead a division called the Department of Government Efficiency (D.O.G.E.) in Trump’s upcoming administration.
In his role, Musk is expected to reduce bureaucracy, cut government spending, and enhance efficiency. Not long ago, Trump confirmed the creation of D.O.G.E., describing it as “The Manhattan Project” of our time.
There are many analysts who believe the recent price resurgence of the leading meme coin is just the beginning of a massive leap. The popular analyst Ali Martinez envisioned a 120% rally to $0.82 as long as DOGE holds the $0.37 resistance level.
The X user Mikybull Crypto forecasted a similar spike, whereas Captain Faibik predicted a rise to as high as $2 during the first half of 2025.
Prior to that, Master Kenobi assumed that the bullish factors coming directly from the White House (and some other elements) could make DOGE the fourth-biggest cryptocurrency.
“The battle won’t be easy, as both SOL and BNB will continue advancing. However, with the rapid flow of capital and the frenzy in the market, DOGE could easily climb to $2 or even higher,” the analyst suggested.
Taking a Closer Look at the Meme Coin Sector
Dogecoin is not the only meme coin pumping today (November 19), with the entire niche entering green territory again. Shiba Inu (SHIB) is up 6% daily, while Bonk Inu (BONK) has risen by 8%.
The top performers include Brett (BRETT) and Ponke (PONKE), which have both soared by double digits in the last 24 hours.
Meanwhile, the market capitalization of the meme coin niche is sitting at an all-time high of almost $130 billion. Recall that at the start of November, the figure was less than $60 billion.
