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Last week, Dogecoin 
$0.166553 (DOGE) emerged as one of the biggest gainers following Donald Trump’s election victory. The cryptocurrency experienced a remarkable 92% increase on the weekly chart, surpassing XRP and USDC in market capitalization, reaching $42.3 billion, and climbing to sixth place. Additionally, the daily trading volume surged by 220%, exceeding $16.8 billion.
Is Dogecoin Preparing for a Major Rally?
Crypto market experts indicate that a strong price surge for Dogecoin may be on the horizon. Analyst Ali Martinez highlighted that DOGE is on the verge of a significant upward movement. According to Martinez, the price of DOGE could peak between $3.95 and $23.26 based on Fibonacci levels.
Examining liquidation data, Coinglass reported over $64 million in liquidations for Dogecoin in the past 24 hours. This included $36 million in short position liquidations and $27.64 million in long position liquidations. Furthermore, open positions increased by 20%, reaching a total of $2.23 billion.
The Memecoin Sector is Experiencing a Strong Movement
Under Dogecoin’s leadership, the memecoin sector witnessed significant revival over the past week. Shiba Inu (SHIB) jumped 20% in the last 24 hours, marking a 57% gain for the week.
Other notable memecoins include Pepe Coin (PEPE), Dogwifhat (WIF), and Bonk (BONK), which showed increases between 12% and 25% in the past 24 hours. Particularly, PEPE is making headlines with a targeted 200% rise.
Following Trump’s victory, the total cryptocurrency market value increased by $400 billion, attracting attention due to Dogecoin’s 92% rally. Bitcoin 
$106,626 rose by 17.9%, Ethereum 
$2,457 by 29%, and Solana 
$146 by 27%, pushing the total market value to $2.75 trillion.
Recent surges indicate the overall strength of the cryptocurrency market. Bitcoin reaching new price levels has boosted analysts’ confidence in the $100,000 target.
