The cryptocurrency market is always busy and reacts to even the slightest changes in the field. Elon Musk is mainly associated with the cryptocurrency sector and is known to promote cryptocurrency on all possible fronts. In one of his recent interviews, Musk shared how cryptocurrencies in general could empower communities.
Speculation about Musk taking a cabinet role if Donald Trump wins the elections in the U.S. is also spreading like wildfire, adding pressure to the developments. In this context, hiding these three coins could yield profits “if” Musk soon takes on a cabinet role.
Dogecoin
Dogecoin will be the first cryptocurrency token to rise the highest in all these leading developments. Musk's mention of his cost-cutting mission classified under the Department of Government Efficiency (DOGE) has sparked speculation about his growing fondness for this token. Dogecoin could record a notable price increase if he soon takes on any role in the cabinet.
According to CoinCodex, Doge may be under pressure to perform well. CC predicts that November will be a slow month for Doge, which could push the token down by 13% in price.
“According to our current Dogecoin price prediction, the price of Dogecoin is expected to decrease by -13.44% and reach $0.142737 by November 28, 2024. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 69 (greed). Dogecoin recorded 18/30 (60%) green days with a price volatility of 11.76% over the past 30 days. Based on the Dogecoin forecast, now is a good time to buy Dogecoin.”
Bitcoin
Bitcoin is another cryptocurrency that could surge and reach even higher peaks if the Trump-Musk duo wins the U.S. elections. Trump has shared his full support for Bitcoin in the current U.S. elections, which could help this token soar onto the radar.
Musk also owns Bitcoin, which has surpassed the $69,000 mark at the time of the press release. The momentum could strengthen if Musk soon takes on a new role in the cabinet.
According to CoinCodex, Bitcoin could generate a new price surge by increasing nearly 33% to reach $93,000.
“According to our current Bitcoin price prediction, the price of Bitcoin is expected to increase by 32.25% and reach $94,229 by November 28, 2024. According to our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 69 (Greed). Bitcoin has recorded 15/30 (50%) green days with a price volatility of 4.23% over the past 30 days. Based on the forecast for Bitcoin, now is a good time to buy Bitcoin.”
Ethereum
Ethereum is another leading cryptocurrency that Elon Musk owns and holds. This token had a modest October, but as November approaches, ETH could generate a new price surge alongside the elections in the United States.
According to CoinCodex, ETH could reach $2786 next month.
“According to our current Ethereum price prediction, the price of Ethereum is expected to increase by 6.25% and reach $2,786.44 by November 28, 2024. According to our technical indicators, the current sentiment is neutral, while the Fear & Greed Index is showing 69 (greed). Ethereum has recorded 15/30 (50%) green days with a price volatility of 3.85% over the past 30 days. Based on the forecast for Ethereum, now is a good time to buy Ethereum.”