Dogecoin (DOGE) has experienced a significant rally, reaching its highest level in over three years. The rally was fueled by market anticipation and a statement from the Department of Government Efficiency. However, the price has fluctuated and struggled to rebound, trading within a range of $0.34 to $0.44. The 2022 class-action lawsuit against Elon Musk and Tesla for allegedly manipulating DOGE prices has been withdrawn by the plaintiffs. Dogecoin is still aiming to reach the $1 price mark, with expectations that it will benefit from the Elon Musk Department of Government Efficiency. The technical analysis suggests the potential for sustained bullish trends, but caution is necessary as the price remains below its 50-day exponential moving average.



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