Cryptocurrency surge: Trump’s election victory sets off a new era wave
Trump's election was like a whirlwind, instantly sweeping the cryptocurrency market. Bitcoin soared astonishingly to $93,500 on the 14th, setting a new historical high and more than doubling since the beginning of the year. The new cabinet members are all supporters of cryptocurrency. Musk, the founder of Tesla, was appointed to be in charge of the "Department of Government Efficiency." The abbreviation of this department, D.O.G.E, actually collided with the Dogecoin he had long promoted, instantly detonating the market. Dogecoin surged by 50% in just one hour, and its market value surpassed Mercedes-Benz and Adidas, becoming the focus of the topic.
In his speech establishing the department, Musk said bluntly, "Your money is being wasted, and we will solve this problem!" His words triggered warm applause from the audience and inspired the enthusiasm of supporters. The price of Dogecoin was only US$0.15 on the day Trump won the election. Now it has increased 2.8 times, reaching a maximum of US$0.42. Its market value has jumped to sixth place in the currency circle, and even triggered the "Animal Rebellion". Shiba Inu Coin, Dogecoin Various currencies such as frogs and dog bones have emerged one after another, making the market like a grand carnival.
Professional investor Du Ruoyu said that although the current buying of Dogecoin is not as good as expected, in a market full of news effects of cryptocurrency, any small move may trigger a huge wave. If Musk really exerts influence in D.O.G.E, the future of Dogecoin is still full of expectations. The rise of Bitcoin is clearly supported by the policies of the Trump administration. The market generally believes that Bitcoin will continue to rise in the future, but investors are also reminded to be cautious about possible corrections.
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