Dogecoin Price To Hit $4 As Elon Musk’s D.O.G.E. May Target US Fed

The crypto market, along with Bitcoin, altcoins, as well as meme coins, has noted a strong rally today, amid a flurry of positive market developments. Amid this top crypto market experts shared bullish forecasts for the leading player in the meme coin space, Dogecoin price. Besides, Donald Trump’s victory has also sparked speculations over Elon Musk’s move with his Department Of Government Efficiency (D.O.G.E) under his presidency.

Top Expert Predicts Dogecoin Price To Hit $4

In a recent analysis shared on the X platform, popular crypto market expert Ali Martinez said that the Dogecoin price is poised to hit $4 in the coming days. Besides, he has also fueled speculations with his bold forecast over further robust rallies in the DOGE price.

Notably, Martinez said that with Elon Musk’s backing to the “now” 47th President of the United States, Donald Trump, DOGE is “primed for a wild ride.” He has shared historical trends to support his prediction, which if repeated, could send the meme coin to $4 or over $23.

This bold forecast by the top expert has sparked optimism among market participants over a strong run for one of the top meme coins. Echoing the sentiment, another crypto market expert and veteran trader Peter Brandt said that DOGE is poised to hit a new ATH.

Meanwhile, Brandt, while sharing the bold forecast, also mentioned Elon Musk in his post and said “In Musk We Trust.” It’s worth noting that Elon Musk has been an active fan of Dogecoin and previously, he has mentioned DOGE several times on the social media platforms, sparking its price rally.

Will Elon Musk’s D.O.G.E Target US Fed

The discussions over Elon Musk’s Department of Government Efficiency or D.O.G.E started with Donald Trump previously offering a cabinet seat to Musk if elected. However, later, Trump said that he did not want to be a part of the Cabinet, but wanted to run D.O.G.E, which would focus on Federal cost-cutting.

This move has sparked discussions among market participants, with Elon Musk also sharing a flurry of memes on it. Besides, the short form of the department has caught the eyes of the crypto market enthusiasts, especially the DOGE community, while triggering the Dogecoin price rally.

Meanwhile, recently, Musk also said that he would like ex-Congressman Ron Paul and his expertise beside him in the Department of Government Efficiency, which has fueled market speculations. Paul also agreed to the proposal, which many deem as a move against the US Federal Reserve and its Chair Jerome Powell.

Ron Paul has been an active critic of the US Fed. He has actively voiced against any decision of the US central bank and its spending plans. This also resonates with the billionaire Tesla CEO, who has previously slammed the Fed for delaying interest rate cuts in August this year, a Reuters report showed.

Besides, the recent political focus of Musk has also sparked optimism among market participants. Having said that, it is expected that the billionaire’s D.O.G.E initiative is likely to send the Dogecoin price to its ATH in the coming days.

Notably, DOGE price today advanced 17% and exchanged hands at $0.1991, with its trading volume rocketing 266% to $11.77 billion. The meme coin has touched a 24-hour high of $0.2133, while Dogecoin Futures Open Interest rose 23%, indicating strong market confidence.

The post Dogecoin Price To Hit $4 As Elon Musk’s D.O.G.E. May Target US Fed appeared first on CoinGape.