Will the price of Dogecoin rise to $2 despite Elon Musk leaving the White House?

Dogecoin has been receiving increasing attention over the past week. As federal government agencies move towards upgrades, interest in the future path of DOGE remains strong. D.O.G.E is still the key in the Social Security Agency (SSA) Notably, the Social Security Agency (SSA) has confirmed that the Government Efficiency Department (DOGE) will be part of its digital modernization strategy. The price of Dogecoin is related to these developments. Elon Musk, often referred to as the Father of Dogecoin (DOGE), has officially stepped down from his role in the DOGE initiative. DOGE, while being a federal administrative unit focused on improving operational efficiency, has attracted attention due to its acronym being directly linked to the ticker symbol of Dogecoin (DOGE). This has led to speculation about bringing this meme coin into the broader digital agenda of the agency. Musk's presence plays a central role in amplifying that connection. His support for Dogecoin often shapes how the cryptocurrency operates. His views on DOGE have attracted more attention to the meme coin. Although Musk is no longer part of the DOGE program, the SSA leadership has emphasized a shift towards "the first digital organization." This initiative represents a transition from traditional frameworks to decentralized protocols. Dogecoin Price Heading Towards $2.28 Historically, the price of Dogecoin tends to decrease and then increase around key Fibonacci extension levels. Javon Marks, a technical analyst, noted that DOGE has surpassed the Fibonacci level of 1.618 in previous bull markets. This target, currently estimated at around $2.28, is once again being reevaluated by market observers.

Furthermore, this forecast is based on the chart structure in which DOGE follows a steady upward path, often retreating before surging. The consistency of the coin reaching these technical levels over multiple cycles has attracted renewed attention from market analysts. The target of 2.28 dollars stems from previous peak levels adjusted by Fibonacci multipliers, tools commonly used to forecast price expansion. DOGE Returns to Familiar Support Zone Moreover, recent movements indicate that the price of Dogecoin has returned to a consolidation range within previous uptrends. Typically, this pattern forms a holding area before the price of DOGE breaks out. Moreover, chart patterns from previous cycles show that DOGE often consolidates within a range before continuing an upward trend. The re-entry into this range indicates the potential for price increase. Analysts and traders often closely monitor such areas, as they can serve as starting points when volume and sentiment shift in the appropriate direction. Moreover, the trading volume is starting to increase, helping to push the price up and break out of the current boundaries. If this coin continues on its current path and avoids major downturns, it could establish another significant move in line with its past behavior. Periodic Breakthrough Price Model of Dogecoin on H4 Chart On the 4-hour chart, analyst Trader Tardigrade has observed a repeating pattern that reflects previous breakout formations. These patterns are characterized by a series of price compressions followed by explosive upward moves. The similarity between the current and past formations has caught Tardigrade's attention.

Moreover, when comparing the visual chart, it shows that the price of DOGE often increases, decreases, balances, and breaks out of that range. Currently, DOGE is following a structure as it is emerging from a recent consolidation phase. Historically, such a trace can lead to additional gains. At the time of writing, the price of Dogecoin is trading at $0.1948, up 4.32% daily while still holding above a key support level and aiming towards the resistance zone of $0.2050.