Dogecoin has recently shown remarkable performance, gaining 229% over the last 30 days, particularly following significant political events in the U.S. The cryptocurrency is poised to potentially breach the $1 mark if it mimics its 2021 trend, which previously led to a 7,000% rally. Analysts highlight that Dogecoin's recent market structure shift around the $0.37 price point mirrors a pattern observed in October 2021. Notably, veteran trader Peter Brandt has pointed out the emergence of an inverse head-and-shoulders pattern on DOGE’s weekly chart, indicating a bullish trend. A further analysis suggests that historical patterns could push Dogecoin's price up to approximately $3 to $4 based on diminishing returns. As of November 12, DOGE peaked at $0.44 but has since shown correction, fluctuating between $0.34 and $0.44. Analysts suggest key support levels remain at $0.30 to $0.326, essential for a recovery. The ongoing market dynamics and the upcoming potential reactions tied to political developments may heavily influence DOGE's trajectory.

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