$DOGE 24 hours of surging 51%, market value jumps to 63.5 billion USD!
According to The Block, Dogecoin surged 51% in a short time, trading at 0.43 USD, with a market value reaching 63.5 billion USD! This increase is simply astonishing!
Analysts say the spike in Dogecoin is closely related to its loyal fan Elon Musk. The news that Musk may join the Trump administration has led to a rise in Dogecoin's value.
Dogecoin's increase ranks among the top in cryptocurrencies. With Trump's support, the crypto market is booming, and Dogecoin is leading the charge. In just one month, its market value skyrocketed from 16 billion USD to 63.5 billion USD, it's crazy!
Musk is not only the head of Tesla and SpaceX, but also a devoted fan of Dogecoin. He often mentions Dogecoin on social media, and the news of him possibly joining the Trump administration has investors optimistic about Dogecoin's future.
Analyst Nick Ruck states that due to the US elections, Dogecoin is seen as bullish. With Musk's active involvement, if he joins the new government, Dogecoin's price might continue to rise.
Musk has spent a considerable amount to help Trump campaign and even personally appeared at events. He also stated he would donate 1 million USD daily to support Trump, which caused a stir.
Analyst Min Jung revealed that the Trump administration may establish a "Department of Government Efficiency," which has a name similar to Dogecoin's English name, pushing up Dogecoin's price. Musk has previously mentioned establishing this department.
After Trump wins the election, Musk is busy coming up with ideas and may hold a key position in the new government. This news makes Dogecoin's price more stable.
In short, Dogecoin's significant rise this time relies entirely on Musk and Trump. As the leader of meme coins, Dogecoin is currently in high demand among retail investors!
Currently, Bitcoin has surged to 89,000, with the market exploding! In this situation, it is most suitable to position potential altcoins! I have carefully selected a coin expected to increase 2-3 times in the short term and 5-10 times in the long term. Comment + like for a free share!
