A widely followed X personality on Monday drew attention to a potential surge in Dogecoin’s (CRYPTO: DOGE) price following the upcoming presidential inauguration.
What Happened: Cephii, a strong backer of the world’s largest meme coin, highlighted the historical pattern of Dogecoin’s spike post-presidential inauguration.
Cephil noted that the dog-themed cryptocurrency surged nearly 1100% a week after the inauguration of Joe Biden in 2021.
It’s worth noting that while DOGE did rally after the swearing-in, the surge wasn’t this sudden. It took a month for the asset to gain nearly 500% since the inauguration.
The influencer further pointed out that the pattern post-election this time around is “nearly identical” to that of 2021, implying a repeat of the rally.
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