Dogecoin (DOGE) Price 'Looks Unstoppable' as Market Momentum Pushes Toward the $0.36 Mark

The meme coin jumped in price recently following Trump winning the November 2024 U.S election. The excitement peaked with one analyst saying DOGE ‘looks unstoppable.’

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Dogecoin price continues to surge, fueled by market momentum and excitement over a potential Trump victory in the upcoming U.S. election. The meme coin has rallied sharply in recent days, aiming for the $0.36 level as its next significant target.

DOGE price soared 24% in the last 24 hours, reaching a high of $0.2036. This is the highest price Dogecoin has attained since April 2024. The surge in DOGE price coincides with Bitcoin (BTC) rising above its previous all-time high, reaching $75,000.

The broader crypto market followed suit, with Solana (SOL), Shiba Inu (SHIB), and Sui (SUI) posting double-digit gains.

Dogecoin price ‘looks unstoppable’

Crypto analyst Erica Hazel commented that Dogecoin “looks unstoppable” after the asset breached the critical resistance at $0.17. Some analysts anticipate that DOGE will become a more significant narrative than Artificial Intelligence (AI), particularly if the Department of Government Efficiency (D.O.G.E) is established following a Trump win.

“Every major news network will be covering D.O.G.E.,” Tommy Moustache, a crypto analyst, stated on X.

“D.O.G.E. would be a bigger narrative than AI, and other sectors if Trump wins. Every major news network will be covering D.O.G.E.”

“If Trump wins and more celebrities begin joining the D.O.G.E. Team and tweeting about it, this movement might snowball into a national phenomenon…”

According to data from the Coinglass Liquidation Map, traders are predominantly bullish on the DOGE price, with over $140 million in Longs compared to $74 million in Shorts. This bullish sentiment is also evident on the weekly and monthly timeframes, suggesting that Dogecoin price may continue to rise in the coming days.

DOGE price analysis: Focus shifts to $0.36

Dogecoin price is exhibiting signs of an upward reversal after an extended period of consolidation. The price has formed a massive rounding bottom pattern from mid-2022 through 2024, a bullish reversal pattern that indicates a potential for upward momentum if the breakout is confirmed.

Based on this pattern, DOGE could target the heights of the previous peaks (around $0.36 initially), with targets as high as $0.74 and beyond if the momentum sustains.

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