Elon Musk's appointment to the newly announced 'Department Of Government Efficiency' or
D.O.G.E, by
President Donald Trump, triggered a significant surge in
Dogecoin value. The market capitalization of Dogecoin now surpasses the likes of
Ford, Delta, and
General Mills. Following this development, the cryptocurrency has had a bigger response than altcoin
XRP and is currently sailing towards breaking its all-time high. If an individual invested $100 in Dogecoin at its inception, they'd witness significant profits today due to the recent rally. The inflationary model of Dogecoin, a point of contention within the crypto community, has been defended by Musk. His involvement with Dogecoin solidifies his title as the 'Dogefather'. Despite a muted initial response to Musk's D.O.G.E appointment, the currency has experienced a rapid surge in value exceeding expectations. Analysts are optimistic about Dogecoin's future, forecasting its value to rise beyond $2. On the downside, the cryptocurrency fell by 10% following the announcement of Musk's position. Despite that, the experts remain bullish about its long-term value. Meanwhile, South Korea has caught the Dogecoin mania despite its value falling below $0.40. The craze is globally inclusive with Musk's tweet about D.O.G.E. causing a surge of excitement in the Dogecoin community.
DOGE Coin News Analytics from Fri, 08 Nov 2024 01:44:00 GMT to Wed, 13 Nov 2024 23:39:39 GMT -
Rating 8
- Innovation 2
- Information 6
- Rumor 6
