These Doge coins are printing hard. D.O.G.E., Department of Government Efficiency, hit a new ATH of $517 million, 7x from our first article about it, and Dogecoin is closer than ever to its old ATH. Trump and Musk might have started the famous meme coins supercycle.
With Bitcoin (BTC) hitting $92,000 and Dogecoin nearing its all-time highs, the excitement surrounding D.O.G.E. is also growing.
The narrative is hot, and some analysts believe this meme coin could reach $1 billion or even more in the short term. Musk’s involvement and the acronym make for a potent combination.
Trump Unveils D.O.G.E. Sparking Explosive Price Surge
Donald Trump, newly re-elected to his second term, has just unveiled the Department Of Government Efficiency (D.O.G.E.), triggering an explosive price surge in the newly minted meme coin bearing the same name.
With Trump appointing Elon Musk and Vivek Ramaswamy to lead the new government department jointly, D.O.G.E. has soared by an incredible +230% in the last three days, reaching an all-time high of $517 million.
The department’s mission, aimed at reducing bureaucracy and eliminating up to $6.5 trillion in unnecessary government spending, has captured investor attention. Musk and Ramaswamy, alongside Trump’s endorsement, have created a narrative that drives immense interest around D.O.G.E. and, of course, Dogecoin.
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D.O.G.E Price Update – How High Can This Meme Coin Fly?
In the longer term, D.O.G.E. could face challenges. Its name, too similar to Dogecoin, may create confusion. While this has worked in its favor for now, benefiting from the association with Elon, it could become a drawback as Dogecoin remains the true meme coin closely backed by Musk.
The resemblance to Dogecoin might prove to be a “break dealer,” especially for retailers that are not very familiar with the meme coin space.
For now, D.O.G.E. is capitalizing on the hype of a newly created government department. How long this wave will last remains to be seen.
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