{"id":2613,"date":"2024-11-13T17:02:06","date_gmt":"2024-11-13T17:02:06","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2613"},"modified":"2024-11-13T17:02:06","modified_gmt":"2024-11-13T17:02:06","slug":"dogecoin-explodes-113-after-trump-announced-key-admin-role-for-elon-musk","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2613","title":{"rendered":"Dogecoin Explodes 113% After Trump Announced Key Admin Role For Elon Musk"},"content":{"rendered":"
\n

Dogecoin was initially an \u201cinside joke\u201d among crypto enthusiasts but soon became one of the top 10 biggest digital assets by market cap. Today, it\u2019s worth $55.31 billion based on current prices and has been slowly increasing in value recently. Based on technical and market charts, the popular meme coin<\/a> has broken out of its descending triangle, suggesting a bullish trajectory ahead.<\/p>\n

As of Wednesday, Dogecoin is trading at $0.3796<\/a> \u2014 and notched a solid 113% rally in the last week\u2013 with analysts targeting a price of $0.70 in the short term and $3.00 in the long term. Like Bitcoin, DOGE\u2019s recent price action is caused by several factors, including Elon Musk\u2019s growing influence in the incoming Trump administration.<\/p>\n

\"\"<\/p>\n

Musk And Dogecoin\u2019s Long History<\/h2>\n

Although Dogecoin isn\u2019t Elon Musk\u2019s idea, the Twitter\/X owner has a long history with the famous meme coin. Musk first mentioned Dogecoin on April 2nd, 2019, posting that it\u2019s his favorite cryptocurrency and adding that it\u2019s pretty cool. After sharing his post, the coin\u2019s price surged from $0.002 on April 1st to $0.004 on April 4th. Musk resumed tweeting about the token in December 2020, causing its price to spike.<\/p>\n

\n

President-elect Donald Trump announced Tuesday that Elon Musk and Vivek Ramaswamy will lead a new \u201cDepartment of Government Efficiency\u201d\uff08D.O.G.E\uff09in his second administration. Trump said that the pair will work together to \u201cdismantle Government Bureaucracy, slash excess\u2026<\/p>\n

\u2014 Wu Blockchain (@WuBlockchain) November 13, 2024<\/a><\/p>\n<\/blockquote>\n

Musk\u2019s actions are disrupting crypto again today, particularly Dogecoin\u2019s valuation. Incoming President Donald Trump has announced that Elon Musk and Vivek Ramaswamy will head a new agency called the Department of Government Efficiency (DOGE)<\/a>. This latest staffing announcement from Trump has sparked optimism and excitement among crypto traders and analysts, betting that it can potentially benefit the industry.<\/p>\n

<\/p>\n

D.O.G.E, Musk, And Crypto\u2019s Potential Price Performance<\/h2>\n

Interestingly, the newly created agency under Trump, which aims to \u201ccut bureaucracy,\u201d also started out as a meme and joke on Twitter\/X. The agency\u2019s name is a play on the popular meme coin, and its supporters even suggested that the same Shiba Inu dog be used as its mascot. Like what Musk did to the meme coin, enthusiasts and traders expect the same price surge with his appointment.<\/p>\n

Aside from the creation of D.O.G.E, other rumors are boosting Dogecoin and crypto price action. For example, there are talks that the market may see the release of Dogecoin ETFs<\/a> or other crypto-related financial products that can enhance liquidity and improve access. With Musk\u2019s humorous yet effective take on crypto and his growing influence under Trump, many say that Dogecoin and crypto will benefit in the long run.<\/p>\n

Here\u2019s What To Expect From Dogecoin\u2019s Price<\/p>\n

Immediately after Trump\u2019s confirmation, the market was abuzz with speculation, and Dogecoin\u2019s charts responded positively. The token\u2019s charts show a bullish trend, with a big chance for a price breakout.<\/p>\n

Meanwhile, market analysts say Dogecoin is attempting to break out from a \u201cdescending triangle pattern,\u201d setting up a bullish trend. In the past, this digital asset surged in price after breaking out from its descending triangle. Experts see Dogecoin\u2019s price hitting $0.70 in the short term and can hit $3 in the long run, provided the momentum and favorable market conditions hold.<\/p>\n

Featured image from NewsWatch, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Dogecoin was initially an \u201cinside joke\u201d among crypto enthusiasts but soon became one of the top 10 biggest digital assets by market cap. Today, it\u2019s worth $55.31 billion based on current prices and has been slowly increasing in value recently. Based on technical and market charts, the popular meme coin has broken out of its […]<\/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-2613","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\/2613","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=2613"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2613\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}