Dogecoin Price Prediction: DOGE Flips USDC, Analyst Predicts Explosive 2021-like Rally

Key Insights:

• Dogecoin flips USDC, and the memecoin reached the 6th spot by mcap.
• The surge in Dogecoin possibly comes from Elon’s central role in Trump’s election win.
• Further, Dogecoin also gains from a high bullishness in the markets.
• Analyst predicts an explosive growth in DOGE.

Dogecoin’s Phenomenal 85% Gain This Week

Last week, Dogecoin had a phenomenal rally with an 85% price gain at press time. The gains continue to push DOGE in an uptrend even when you read this article.

In just over a week, DOGE overtook XRP and USDC, two of the largest players in the crypto markets, by a decisive margin.

Much of the gains come from a broad market rally due to Trump’s election victory, which paved the way for fairer crypto regulations. Dogecoin stands to gain a lot of things from Trump’s presidency.

• First, it would enjoy greater liquidity as crypto investment rules are expected to loosen up a bit.
• Secondly, Dogecoin sees institutional interest, which could give it two more benefits: increased retail demand via an ETF and increased institutional demand.

Further, DOGE’s association with Elon Musk seems to have accelerated its gains. On several occasions, Elon has openly endorsed DOGE. His car company, Tesla, already accepts Dogecoin payments.

Dogecoin Expected To Go Parabolic

Ali Martinez, a DOGE supporter for a long time, has predicted that DOGE will go parabolic. His analysis shows DOGE could go up to 10x shortly, repeating its 2021 rally.

Flips USDC, Reaches 6th Spot by Marketcap

Dogecoin has recently surpassed USDC, the second-largest stablecoin in terms of market cap. The top memecoin has also acquired a sufficient lead of $5 billion, approximately over USDC, which means that shortly, it would be very difficult for the latter to overtake DOGE.

Flipped XRP Earlier This Month

Just four days ago, DOGE surpassed XRP as the seventh largest cryptocurrency. This gain occurred just after the US elections, when it became certain that Donald Trump would be the next US President.

What Supports This Growth? Elon Musk or Market Rally

The growth in the current crypto markets stems from an expectation of positive regulation under the Trump administration. This expectation received a major boost during the 2024 Bitcoin Conference in Nashville, where Trump said he would fire SEC chief Gary Gensler and ensure the end of the crypto hunt ordered by the current administration.

Below is a clip from that conference where Trump openly supported Bitcoin, asking users never to sell it.

In the specific case of DOGE, the most important factor that has led to this 85% rally is the close association of DOGE with Elon Musk and the critical role played by X.com and Musk in supporting Donald Trump.

However, there is also an influence of broader markets, especially memecoins which were the largest performing sector in 2024.

DOGE Struggle To Retain $0.1 Last Month, Now Its 280% Up

Last month DOGE struggled to retain $0.1 levels and risked falling into a long-term bearish trend. The chart below clearly shows how DOGE struggled to cross above $0.1 levels in multiple attempts.

Taking a Look at the Broader Markets

A look at the broader markets shows that almost all cryptocurrencies have gained this month. This week, the most bullish among large coins were DOGE, ADA, SUI, and SHIB, gaining 85%, 75%, 67%, and 48%, respectively.

This week, Solana was a top gainer, crossing its 2024 high of $209. At press time, SOL was trading at around 210.

Further, Ethereum has finally crossed $3000 levels, and at press time is around $3150. Several experts have claimed that Ethereum’s fair value lies around $10,000, which is a further 300% up from current levels.

Bitcoin was the most significant gainer this week, not in percentage terms but in market cap and market dominance. The top crypto now stands at $81,000 and is expected to cross $100k before the end of the year.

Among crypto sectors, memecoin witnessed the highest growth, carrying forward their pre-halving gains from earlier this year. Solana ecosystem, too, made decent gains. Further, the RWA sector also has outperformed this week, with the top 5 projects gaining at least 30% last week.

Disclaimer: Voice of Crypto aims to deliver accurate and up-to-date information but will not be responsible for any missing facts or inaccurate information. Cryptocurrencies are highly volatile financial assets, so research and make your own financial decisions.