Dogecoin has increased by 12% over the past 24 hours amidst rising positive sentiment as the US presidential election approaches. With a cumulative rise of 65% since October 1, analysts believe a Trump victory could trigger an additional 30% spike in Dogecoin's value. Master Kenobi, a crypto analyst, suggests that Dogecoin is well-positioned for this potential surge, having historically navigated an ascending channel since 2017. With new addresses for DOGE increasing by 100%, possibly due to investor interest spurred by Trump's proposals, the technical indicators are optimistic. Currently, Dogecoin needs to break above $0.174 to facilitate a move towards $0.23. Additionally, a golden cross signal on the weekly chart suggests bullish momentum, reminiscent of the conditions that led to significant price gains in 2020. Overall, while speculative, the potential for Dogecoin's growth hinges on the upcoming election results and market reactions to a Republican win.

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