Is Dogecoin also soaring because of Trump's win?

[Fidelia]

Dogecoin has seen a monumental increase of over 80% over the last few days. What could the pump in the price of Dogecoin be attributed to? Is it also because Trump won the American elections that Dogecoin is also soaring, knowing that Elon Musk is a huge supporter of Doge?

 

[Trush Jodie]

Elon Musk is the prominent figure in Trump's win and his close association with Doge has made it to keep rising with Trump winning.

 

[Nomad]

Bitcoin is the benchmark of crypto world. If bitcoin gains value all other coins follow. Bitcoin gained value due to Trump's win so most coins that are gaining value because bitcoin gained value

 

[Kross]

I heard that Doge has outperformed the entire market in just one week. That is very significant and it is because of Trump.

 

[eLdavis]

I think it has something to do with that as well, especially based on the fact that Musk was a huge supporter for Trump.

 

[SilverLance]

Elon Musk's support and Trump's win are both contributing factor to the recent increase of Dogecoin.

 

[Stardom22]

For me l think so. And because of that the dogecoin would actually soar on the cryocurrency market

 

[SilverLance]

And it certainly has the potential to soar even higher.

 

[Augusta]

I think it is because Bitcoin is the crypto world. as bitcoin gains value all other coins follow. Bitcoin gained value and Dogecoin follows too

 

[SilverLance]

It is not uncommon to see Dogecoin and other altcoins follow Bitcoin's lead when it comes to price movements.

 

[magnus2022]

Dogecoin has seen a monumental increase of over 80% over the last few days. What could the pump in the price of Dogecoin be attributed to? Is it also because Trump won the American elections that Dogecoin is also soaring, knowing that Elon Musk is a huge supporter of Doge?

The answer to the question is yes! It is because of the synergy between Donald Trump and Elon Musk. Trump have also given appointment to Elon Musk .

 

[Suba]

From my monitoring, before Nov 5, 2024 (US presidential election) the price of Dogecoin on Nov 4, 2024 was 0.151, and reached its highest price at 0.460 on Dec 9, 2024. In my opinion, this surge is not because of Elon Musk but because the crypto market is being invaded by investors.

 

[riberet19]

Yes, it was because of that, but mostly because Elon Musk has become a person of influence in Trump's cabinet.

 

[Min George]

Trump and Musk's partnership and the eventual hype surrounding the election win caused the price of Doge to rise.