Dogecoin Price Prediction: Miners Buy 300,000,000 DOGE to Bet on Trump Win

With DOGE’s current price 22% above its 30-day simple moving average (SMA), miners who purchased DOGE in the last 30 days have $10 million in unrealized gains at the time of publication.

With Trump leading the polls in cryptocurrency bets, market observers expect another rise in DOGE’s price if the Democratic candidate wins the November 5 election.

Dogecoin miners who have amassed their block rewards over the past month are sending two vital bullish signals.

First, with miners holding their block rewards on the line, staking millions in unrealized profits, it shows widespread expectations among key stakeholders that prices could rise further in the near future.

Moreover, the accumulated 300 million DOGE effectively reduces the number of newly mined coins entering the market, clearing the way for rapid price increases during periods of high demand.

Dogecoin Price Prediction: Trump Win Could Trigger Sharp Rally to $0.20

Dogecoin price is holding above $0.16 support amid widespread profit-taking, signaling potential upside, especially if a Trump victory materializes.

According to the Donchian channels on the DOGEUSD daily chart, the recent rally has tested the upper boundary around $0.19, which may have weakened established resistance slightly.

With the price currently hovering around $0.16, a break above the Donchian Channel midline at $0.1795 could pave the way for another attempt to reach the $0.20 level if a Trump win sparks buying pressure as many expected.