With the US presidential election approaching, many traders are wondering whether the price of kriptovalyuta Dogecoin (DOGE) to $1 if Donald Trump wins.
Price Dogecoin , considered the most popular meme token, rose more than 15% after Elon Musk spoke about the Department of Government Efficiency, or DOGE, at a pro-Trump rally
On October 17, Musk held a rally in Pennsylvania where he promoted Donald's candidacy for president and casually mentioned Dogecoin , which again led to an increase in the value of the coin by 15%.
Musk at a Trump rally
Rate increase Dogecoin happened after Elon donated $75 million to the America PAC, a political committee that aims to support Trump and other Republicans in the elections. There is an opinion that if Donald wins, the US will create a favorable environment for the development of the crypto industry. Therefore, analysts are wondering how much the price of DOGE will rise if Trump returns to the Oval Office.
Historical data suggests that Dogecoin has been growing in value due to celebrity mentions and media hype. Elon's previous posts about the meme token have led to a significant increase in the value of DOGE, with its market cap reaching an all-time high of $88 billion in May 2021. Musk's influence on Dogecoin undeniably, and since he turned out to be a Trump supporter, Donald's election could lead to increased investment appeal for the meme-based cryptocurrency.
If Trump wins the presidential election, Elon's support and more friendly digital asset legislation will cause capital to flow into the market Dogecoin . Many crypto experts believe that Donald's administration will prioritize less stringent regulations for cryptocurrency trading. This could encourage investors who were previously afraid to buy tokens due to legislative uncertainty to invest in DOGE.
Probable rate increase Dogecoin up to $ 1
Path Dogecoin has been an up-and-down ride in the cryptocurrency market. After the coin's value crashed to $0,05 in late 2023, token rose from the ashes and rose to $0,22 by March of this year. Such a wide range of fluctuations in the asset price indicates a high level of its volatility. For this reason, the rate Dogecoin There is a chance to reach the $1 mark, especially if Trump's presidency plays into the hands of the crypto industry.
As recent events show, the mere mention Dogecoin could lead to a sharp rise in the asset's value, and the wave of excitement that has risen around DOGE following Musk's comments indicates bullish sentiment among community members Dogecoin , which will be strengthened if Donald continues to support digital assets during his election campaign. Combined with Musk's influence, this could significantly increase investor interest in DOGE.
The current situation on the market suggests that the rate of growth Dogecoin increases, and token 3% ahead Bitcoin by this indicator. If this trend continues and Trump and Musk continue to care about the development of the crypto industry, then the price of DOGE may well reach the psychologically important barrier at $1.
Market Dogecoin is subject to speculative trading, making it difficult to accurately predict the price movement of the meme token. But one thing is for sure: if Trump wins the election, the probability of DOGE price increasing to $1 will increase due to the creation of a more favorable and clear legislative framework for cryptocurrencies in the United States and the restoration of investor confidence in digital assets.
