The U.S. presidential election has officially started, with Republican presidential candidate Trump temporarily leading. Due to Trump's leading position in swing states, and the expectation of an increased chance of Trump being elected, the price of Dogecoin soared over 30% in a single day, marking the highest increase in the top 100 cryptocurrencies by market capitalization.
The U.S. presidential election officially began on the 5th local time, with polling places across the country closing one after another. The election results are expected to be released as early as late at night on election day or early the next morning (Taiwan time, tonight or tomorrow morning).
According to the latest AP vote counting data, Trump currently leads with 230 electoral votes, temporarily ahead of Harris's 205 votes.
AP latest vote counting data
Trump currently has 230 votes: 11 from Indiana, 8 from Kentucky, 4 from West Virginia, 7 from Oklahoma, 11 from Tennessee, 9 from Alabama, 6 from Mississippi, 30 from Florida, 9 from South Carolina, 6 from Arkansas, 3 from North Dakota, 3 from South Dakota, 3 from Wyoming, 8 from Louisiana, 3 from Nebraska, 17 from Ohio, 40 from Texas, 10 from Missouri, 6 from Utah, 4 from Montana, 6 from Kansas, 6 from Iowa, 4 from Idaho, and 16 from North Carolina.
Harris received 205 votes: 3 from Vermont, 10 from Maryland, 7 from Connecticut, 11 from Massachusetts, 4 from Rhode Island, 14 from New Jersey, 19 from Illinois, 3 from Delaware, 28 from New York, 10 from Colorado, 3 from Washington D.C., 1 from Maine, 54 from California, 12 from Washington, 8 from Oregon, 5 from New Mexico, and 13 from Virginia.
It is worth noting that in the seven key swing states, data from The New York Times shows that after Trump won the first swing state of North Carolina, he is currently leading in the vote counting of five other swing states: Arizona, Georgia, Michigan, Pennsylvania, and Wisconsin, while Nevada has not yet reported any counts.
AP data shows that in the key state of Pennsylvania, Harris initially led Trump by over 100,000 popular votes, but Trump has now successfully overtaken her. The current vote count in Pennsylvania is about 83% complete, with Trump receiving 3,016,066 popular votes, a vote share of 51.4%, while Harris has 2,797,343 popular votes, a vote share of 47.7%.
Dogecoin surged by 30%
Possibly stimulated by the increased chance of Trump's election, the price of Dogecoin, heavily supported by Musk, surged more than 20% to $0.21936 within two hours starting from 10 AM today. As of the time of writing, it has risen 31% in nearly 24 hours to $0.21289, marking the highest daily increase among the top 100 cryptocurrencies by market capitalization.
Dogecoin price chart. Source: Binance
Trump has stated that if he wins, he will invite Tesla CEO Elon Musk, known as the 'Dogecoin father', to lead a government spending audit, implement strong reforms, and establish the 'Department of Government Efficiency', abbreviated as DOGE, to propose suggestions for reducing waste, fraud, and unnecessary spending, which coincidentally has the same abbreviation as Dogecoin.
On the 27th, Musk attended a Trump rally at Madison Square Garden in New York, where he articulated his vision for significantly reducing government spending, stating that if Trump wins the presidential election, he can streamline at least $2 trillion from the federal budget.
As Musk publicly supports Trump during the election, he does not forget his identity as the Dogecoin father. At the end of last month, he once again promoted Dogecoin publicly, tweeting a picture of himself supporting Trump, wearing a 'Make America Great Again' hat and raising his fist, while also sharing a similar picture of a Shiba Inu. It is expected that if Trump wins, the market will continue to have strong bullish sentiment towards Dogecoin.
