Price: $0.43144 -8.6838%
Market Cap: 63.39B 1.8921%
Volume (24h): 14.79B 0.4%
Dominance: 1.8921%
Price: $0.43144 -8.6838%
Market Cap: 63.39B 1.8921%
Volume (24h): 14.79B 0.4%
Dominance: 1.8921% 1.8921%
  • Price: $0.43144 -8.6838%
  • Market Cap: 63.39B 1.8921%
  • Volume (24h): 14.79B 0.4%
  • Dominance: 1.8921% 1.8921%
  • Price: $0.43144 -8.6838%
Home > Information news > Trump And Dogecoin, A Victory That Electrifies Crypto

Trump And Dogecoin, A Victory That Electrifies Crypto

Release: 2024/11/13 14:39 Reading: 779

Original author:Cointribune EN

Original source:https://coinmarketcap.com/community/articles/67344296135d8c3c57112b04

Trump And Dogecoin, A Victory That Electrifies Crypto

Dogecoin Surges to New Heights

Dogecoin (DOGE) has reached a new milestone, surpassing $0.43 on major exchanges, its highest level in over three years. This remarkable growth follows the US presidential election and subsequent optimism in the crypto market.

Election-Fueled Rally

Dogecoin's rally began after the announcement of President Donald Trump's election victory on Tuesday. The meme coin reached a peak of $0.4398 on Bitget, its highest since 2021.

Dogecoin's performance significantly outpaced Bitcoin's 28.2% weekly rise, showcasing investors' enthusiasm towards cryptocurrencies under a potentially favorable Trump administration.

Musk's Influence and Institutional Support

Billionaire Elon Musk, known as the "Dogefather," continues to boost DOGE's popularity. He hinted at establishing a "Department of Government Efficiency" (DOGE), focused on reducing federal expenses.

Institutional interest in Dogecoin is also growing. Spirit Blockchain Capital, a Canadian firm, plans to accumulate DOGE reserves, similar to MicroStrategy's strategy with Bitcoin. This move indicates the evolution of Dogecoin from a joke to a serious investment consideration.

Market Dominance and Potential

Dogecoin currently ranks sixth among cryptocurrencies by market capitalization, surpassing established players like USDC and XRP. While its price remains below its 2021 peak of $0.73, its resurgence demonstrates its resilience and growing adoption.

The rise of Dogecoin underscores the evolving nature of the crypto market, where even speculative assets are gaining traction among institutional investors.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.