Despite headlines that should be bearish for the meme coin, the Dogecoin price prediction is turning unexpectedly bullish.
The U.S. government has officially shut down the Department of Government Efficiency (DOGE), but instead of crashing, DOGE is climbing.
The Office of Personnel Management confirmed the agency’s closure, which followed reports of a split between President Donald Trump and Elon Musk, who was believed to be leading the cost-cutting effort.
Even with political drama in the mix, DOGE is moving higher, proving once again that meme coins don’t follow the rules.
Even though DOGE had been actively posting about its downsizing efforts up until yesterday, OPM chief Scott Kupor confirmed the department’s closure in an interview with Reuters published today.
The agency’s link to Dogecoin once sent the token soaring, especially after Elon Musk was named to lead the initiative, a move many saw as a direct nod to the meme coin.
Now, with the news confirmed and DOGE unexpectedly pushing higher, the charts are showing signs of a potential shift.
Dogecoin Price Prediction: DOGE Bounces Off Key Support and Could Deliver Big Gains
Despite the announcement, Dogecoin has gone up by 1.1% in the past 24 hours, while trading volumes have jumped by 20%.
The market appears to be shrugging off the news, as it attempts to recover from the significant setback it experienced over the past few weeks.
A few days ago, Dogecoin broke below a long-standing trend line support, sparking concern among traders.
The price quickly dropped from $0.15 to $0.13, triggering a wave of bearish sentiment.
So far, $0.13 appears to be holding as support, the same level that sparked a major rebound on April 7.
Back then, DOGE doubled within a month, climbing from this base to $0.26.
If that pattern repeats, it could mean a 100% upside for those buying at current levels.
Dogecoin may first retest its recent swing high at $0.29, and if momentum continues, the rally could stretch toward its November 2024 peak of $0.47, a gain of 224%.
As meme coins begin showing early signs of recovery, some traders are looking even earlier in the cycle.
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The post Dogecoin Price Prediction: Trump’s DOGE Department Just Collapsed – So Why Is the Token Surging? appeared first on Cryptonews.
