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Historically, bullish trends for Dogecoin have correlated with broader market events and governmental initiatives. Following the November elections, Dogecoin saw a notable rally, especially with the formation of the Department of Government Efficiency within the Trump administration aimed at reducing regulations.
This rally significantly raised questions around Dogecoin’s trajectory and how high its price could rise. Technical analyses suggest potential growth, especially if current patterns hold, forecasting Doge's price could exceed $1, driven by a combination of market momentum and regulatory developments.