{"id":1402,"date":"2024-10-19T21:02:27","date_gmt":"2024-10-19T21:02:27","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=1402"},"modified":"2024-10-19T21:02:27","modified_gmt":"2024-10-19T21:02:27","slug":"elon-musk-is-back-to-shilling-dogecoin-is-a-36000-rally-possible-again","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=1402","title":{"rendered":"Elon Musk Is Back To Shilling Dogecoin, Is A 36,000% Rally Possible Again?"},"content":{"rendered":"
\n

The world\u2019s richest man, Elon Musk<\/a>, is back to support the foremost meme coin, Dogecoin (DOGE), although indirectly. This has raised the possibility of Dogecoin rallying 36,000%, just like it did in the 2021 bull run<\/a>.\u00a0<\/p>\n

Elon Musk Is Back To Shilling Dogecoin<\/h2>\n

Elon Musk is back to shilling Dogecoin, although this time in a political way. Musk proposed that the \u2018Department of Government Efficiency<\/a>\u2019 be the name of the department that Donald Trump wants him to head if elected. This name led to the acronym \u2018D.O.G.E\u2019, which has brought about a correlation with Dogecoin\u2019s ticker, DOGE.\u00a0<\/p>\n

Considering Musk\u2019s fondness for Dogecoin<\/a>, this move has been considered deliberate and continues to provide a bullish outlook for the foremost meme coin as the US elections draw closer. It is worth mentioning that the Dogecoin price has rallied by 31% in the last seven days, mainly thanks to Musk\u2019s continuous use of the \u2018D.O.G.E\u2019 term in recent appearances.\u00a0<\/p>\n

On October 17, he made an appearance at a Pennsylvania town hall meeting where he again indirectly shilled DOGE. When asked by an audience member about the proposed department, he replied, \u201cYeah, D.O.G.E,\u201d leading to the Dogecoin price<\/a> surging by over 15% in 24 hours. DOGE rose above $0.14 in the process, its highest price level since late July.\u00a0<\/p>\n

Dogecoin had also rallied the previous day by over 7% after Musk made a post in which he mentioned how the \u2018D.O.G.E\u2019 department was going to ensure that politicians and bureaucrats do not pose a threat to human progress.\u00a0<\/p>\n

The meme coin is possibly reacting more to Elon Musk\u2019s mentions of \u2018D.O.G.E\u2019 because of the increasing likelihood that the department will come into existence. Donald Trump<\/a> is currently leading the polls and has promised to appoint Musk to head this department, which will be responsible for overseeing and managing government spending.\u00a0<\/p>\n

Will DOGE Rally 36,000% Again?<\/h2>\n

With Elon Musk shilling<\/a> Dogecoin again, there have been questions about whether DOGE can enjoy a similar 36,000% rally like the one during the 2021 bull run. Musk also gave a plug to DOGE during that period and massively contributed to the meme coin\u2019s meteoric rise to its current all-time high (ATH) of $0.78.\u00a0<\/p>\n

A 36,000% rally for the Dogecoin price is dicey this time around as it would mean that DOGE could reach $50 in this market cycle. A rise to $50 would give DOGE a market cap of $7.3 trillion based on its circulating supply of 146.43 billion coins. This is almost impossible, considering that the crypto market<\/a> has a total market cap of around $2.35 trillion.\u00a0<\/p>\n

However, crypto analysts like Javon Marks still predict that the Dogecoin price could hit double digits in this bull run<\/a>. Crypto analyst Dima James also recently suggested<\/a> that the meme coin could reach $10.\u00a0<\/p>\n

\"Dogecoin<\/div>\n","protected":false},"excerpt":{"rendered":"

The world\u2019s richest man, Elon Musk, is back to support the foremost meme coin, Dogecoin (DOGE), although indirectly. This has raised the possibility of Dogecoin rallying 36,000%, just like it did in the 2021 bull run.\u00a0 Elon Musk Is Back To Shilling Dogecoin Elon Musk is back to shilling Dogecoin, although this time in a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-1402","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1402","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1402"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/1402\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1402"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1402"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1402"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}