The Doge army has infiltrated the U.S. Senate through Republican Senator Joni Ernst. The creator of Dogecoin, Billy Markus, posted a clip capturing Ernst ending her recent speech on government efficiency with the phrase 'Doge is inevitable'.
Markus tweeted under the username 'Shibetoshi Nakamoto', referring to the creator of Bitcoin, pseudonym Satoshi Nakomoto, combined with 'Shiba Inu', the dog that inspired the legendary meme from which Dogecoin and many other subsequent meme coins drew inspiration.
The founder of Nocoin, Markus, invented Dogecoin to mock the newly emerging meme coin sector, but he ultimately created the largest meme coin ever, which also won the affection of meme fans and the CEO of Tesla/SpaceX/X, Elon Musk, who frequently tweets his love for this coin during the Bitcoin price surge in 2021.
In a clip posted on Twitter, Ernst did not mention Dogecoin but rather DOGE, an abbreviation for a government efficiency oversight organization led by Elon Musk, an ally of Trump, when Trump took office. Overall, meme coins had a rough night last night. The sector dropped 7.5% to reach a total market capitalization of $108 billion.
Dogecoin Price Analysis – Where is DOGE Heading Now?
Dogecoin has recorded a larger-than-average loss of 8% in the past 24 hours, down to $0.3199.
However, Dogecoin's relative strength index (RSI) is 26, indicating that the coin is oversold and trading below its fair value.
Some overnight buying transactions could bring the price back to a strong support level at $0.40.
Looking ahead, Dogecoin has significant potential to reach $1 if the market continues to grow.
Additionally, if cryptocurrency supporters like Donald Trump fulfill their promise of transparency in U.S. regulation, the price of $DOGE could rise even further, benefiting from a favorable market environment.
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