Dogecoin could break the $1 threshold if the memecoin repeats its 2021 trend which generated a 7,000% rally.
Dogecoin (DOGE) experienced a sharp decline, dropping 10% in the last 24 hours. After surging to a peak of $0.4385 on Tuesday—the highest since May 2021—the meme-based cryptocurrency has fallen over 16%. This downturn has occurred despite a significant announcement from President-elect Donald J. Trump. Dogecoin Slumps Despite ‘DOGE’ Formation Trump unveiled the formation of […]
US President-elect Donald Trump has appointed two prominent crypto supporters—tech mogul Elon Musk and former Republican presidential candidate Vivek Ramaswamy—to lead a new initiative, the Department of Government Efficiency (DOGE). On Nov. 13, Trump announced on his Truth Social platform that he aims to eliminate government inefficiencies, slash excess regulations, and streamline federal spending through […]
The post Donald Trump taps Elon Musk, Vivek Ramaswamy for new Department of Government Efficiency (DOGE) initiative appeared first on CryptoSlate.
The newly created Department of Government Efficiency will work to cut “waste and fraud” from $6.5 trillion in US government spending.
Dogecoin (DOGE), the leading meme coin, is making waves in the cryptocurrency realm as it has been soaring significantly following Donald Trump’s victory in the U.S. presidential election. Today, November 13, 2024, Trump announced that Elon Musk and Vivek Ramaswamy will lead a newly created Department of Government Efficiency, which is abbreviated as DOGE. DOGE …
Bitcoin’s recent surge toward an all-time high near $90,000 has drawn renewed interest in the broader crypto market. Thanks to its increase to a three-year high, Dogecoin also emerged as a standout performer. Data from CryptoSlate shows that Dogecoin has jumped by nearly 38% in the past 24 hours, climbing to a year-to-date high of […]
The post Dogecoin soars 38% as renewed interest propels it multi-year high appeared first on CryptoSlate.
A lot of limelight has been seen recently on Shiba Inu (SHIB) making it one of the hottest topics to consider in the cryptocurrency arena. The price of SHIB rose by more than 70% over the past week, to the delight of investors and dealers. The trading volume has surged to as high as 246%, reaching an unprecedented high of $6.18 billion, putting to rest doubt over where SHIB will trend next. Related Reading: Shiba Inu Strategic US Hub Plan Sends SHIB Price On A 23% Moonshot SHIB & The Trump Effect Analysts however contend that the rise in SHIB can be ascribed to the rampant zeal witnessed in the cryptocurrency space fueled by some recent events in the US, including Donald Trump’s election victory, which has invigorated market sentiment – and his endorsement of Elon Musk for a proposed crypto department once he starts work as president. Amidst this anticipation, SHIB has set its sights on a rather steep growth curve. Currently situated a notch below where it should be, this degree of undervaluation points to the potential for a sharp uptrend within a few days from now. In the medium term, SHIB’s price forecast is rather optimistic given the projected 91.16% increase in the price over the next 6 months. This suggests that this meme token could be on an upward trajectory for quite some time as it cements its position among the leading crypto assets. Market Sentiment On The Rise The cryptocurrency landscape, on the other hand, paints a much broader and more optimistic picture, thereby raising a lot of expectations around SHIB. Market experts believe that the victory of Trump has created a market euphoria that complements the rally of Bitcoin and the rest of the digital assets and helps in the upward trajectory of SHIB. Whale Activity Indicates Interest Apart from market mood, on-chain data shows an increase in activity by important SHIB holders, known as “whales.” Data by IntoTheBlock shows that early November saw a notable rise in the volume of these high-value transactions—6.47 trillion SHIB overall. A high level of whale activity typically indicates a strong interest from significant investors, as they position themselves for potential future gains. An indicator that SHIB may be in for another round of price jumps is this pattern of accumulation among large participants. Still fairly fresh off of a confirmed Hidden Bull Divergence and holding broken out, $SHIB (Shiba Inu), in the midst of a roaring Bitcoin market, can be getting ready for its next level performance towards the $0.00081 target! This target’s currently over 306% away and a push to… https://t.co/0ySjEfPQgF pic.twitter.com/DwklAFs8zj — JAVON⚡️MARKS (@JavonTM1) November 8, 2024 Related Reading: Unstoppable Bitcoin: BTC Price Barrels Past $81,000 For New ATH — $82k Now Within Reach SHIB’s Route To A Significant Price Target Meanwhile, market observers are currently focusing on a potential target of $0.00081, which would represent a 306% increase from current levels, following recent technical breakouts and a confirmed concealed bullish divergence on the charts. Featured image from DALL-E, chart from TradingView
The United States dollar has lost approximately 96% of its value since the Federal Reserve Bank was established in 1913.
Elon Musk’s favorite cryptocurrency, Dogecoin (DOGE), could be on the verge of a massive parabolic rally following the recent victory of Republican U.S. presidential candidate Donald Trump. Could Trump’s Victory Catapult Dogecoin To $23? Earlier today, Trump was elected the 47th US president with a convincing win over Democratic presidential candidate Kamala Harris. Following Trump’s victory, Bitcoin (BTC) surged past its all-time high (ATH) of $73,737, reaching unprecedented levels. Related Reading: Dogecoin (DOGE) Sets Sights on $0.150: Will The Rally Take Off? While BTC is trading at new highs, the ripple effect of a Trump victory is expected to impact other digital currencies, especially Musk’s preferred Dogecoin. According to crypto technical analyst Ali Martinez’s analysis, DOGE is nearing a breakthrough at the 0.50 Fibonacci retracement level, potentially leading to a rally up to the 1.618 or even the 2.272 Fibonacci extension levels. For the uninitiated, Fibonacci extensions are used in technical analysis to project possible future price targets by identifying key support and resistance levels. Historically, DOGE has frequently aligned with Fibonacci extension levels during bull runs. According to Martinez, if DOGE follows a similar trajectory in the next bull run, it could surge to anywhere between $4 and $23. The chart below illustrates that the next significant Fibonacci extension level for DOGE is 1.00, placing its price just above $0.739, beyond its current ATH of $0.7316, set in May 2021. Currently, DOGE is trading at $0.202, having risen an impressive 18% in the past 24 hours, largely fueled by Trump’s victory. If DOGE reaches the 1.618 Fibonacci extension level, its price could jump to $3.94 – more than five times its current ATH. Under extremely bullish conditions, DOGE could even hit the 2.272 Fibonacci extension level, pushing its price to $23.25 – nearly a 100x increase from its present value. The Potential Impact Of Elon Musk In Trump’s Cabinet While Musk’s potential role in Trump’s cabinet remains unclear, the world’s richest man will likely hold significant influence during Trump’s term as president. Related Reading: Dogecoin Rockets Up 12%, But This FOMO Signal Could End Rally Musk has frequently voiced his support for DOGE on social media platform X, often triggering short-term price surges driven by retail investor interest. With Musk’s possible influence in the new administration, it wouldn’t be surprising to see policy decisions that could indirectly benefit cryptocurrencies like Dogecoin. Data shows that DOGE whales may anticipate a significant price surge, as recent transactions indicate the accumulation of more than 2.1 billion tokens over the past week. That said, DOGE investors should exercise caution as the token has already experienced a substantial run-up recently and may be flashing overbought signals. At press time, BTC is trading at $74,249, up 8% in the last 24 hours. Featured image from Unsplash, Charts from X and Tradingview.com
The world’s richest man just got richer following Donald Trump’s presidential election victory.
Elon Musk’s net worth soared by $20 billion following Donald Trump’s election win, largely due to Tesla’s stock jumping 12.7% to $283.24. Musk, Tesla’s largest shareholder with over 411 million shares, saw the automaker’s market value increase by $120 billion, pushing it above $900 billion for the first time since 2023. Trump praised Musk as …
Dogecoin price has rallied since October, and data suggests it's set to go much higher.
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Investors got excited as Dogecoin experienced a big price upsurge making it the best-performing cryptocurrency in the last 24 hours after a massive campaign rally by presidential candidate Donald Trump. Dogecoin’s price spiked following the disclosure that the Tesla CEO is being considered as the head of a proposed department. Related Reading: Pepe Battles Price Decline, But Analysts Signal A Potential Rally Ahead Musk As Gov’t Efficiency Head Former US president Trump, who is eyeing a White House comeback, announced that Tesla CEO Elon Musk will hold a key position in his administration once he emerges triumphant in the upcoming US elections. Trump said that Musk would be the head of a proposed department called the Department of Governmental Efficiency or D.O.G.E. for short, an acronym that bears resemblance to Dogecoin. A similarity analysts viewed sparked the price rally. pic.twitter.com/y0UCd5NvMj — Elon Musk (@elonmusk) October 28, 2024 The Tesla CEO has been making rounds in the country to endorse Trump in his pursuit of getting a second chance at the White House. In a Trump rally in New York City over the weekend, Musk emphasized the benefits of establishing D.O.G.E. He explained that it would generate huge savings for the US government, saying that the new department could trim the annual US budget by $2 trillion. At the @realDonaldTrump / @JDVance rally at Madison Square Garden! https://t.co/gEcj39mXIp — Elon Musk (@elonmusk) October 27, 2024 Dogecoin Price Rally Mentioning the planned D.O.G.E. in a Trump campaign sortie reignited the interest in the oldest meme asset. Charts showed that the price of Dogecoin increased by nearly 15% and traded at $0.157 as the crypto becomes the biggest gainer among the top 100 digital currencies by market cap. According to CoinGecko, Dogecoin has been experiencing a price rally hitting $0.16 on Monday, the highest it has ever been since June. The subtle increase in Dogecoin over the last few weeks coincides with Musk’s continuous involvement in Trump’s quest to get re-elected as US president. After the recent shooting incident against Trump, Dogecoin prices climbed up to a level which is even higher than what it is currently experiencing in relation to D.O.G.E. DOGE price up in the last 24 hours. Source: Coingecko A Portion Of The Coins Are In Top Wallets Analysts said that Dogecoin can provide higher liquidity and abundant centralized listings, saying that the latest breakout pushed the coin’s volume to $2.5 billion. They said that top wallets hold about 21% of all Dogecoin, which is owned by individuals looking for long-term profits. At the time of writing, DOGE was trading at $0.165, up 14% and 16.3% in the daily and weekly timeframes. Related Reading: Bitcoin Potential For Monetary Policy Sparks Growing Interest Among Central Banks Meanwhile, market observers noticed that the Dogecoin price uptick has no impact on “dog-themed tokens”. They also noted that several wallets with substantial Dogecoin are seen to be keen on disposing of their digital assets anytime. Featured image from CCN, chart from TradingView
Bitcoin's "bullish setup" into the U.S. election next week mirrors late 2020, which preceded a 120% rally in two months, Matthew Sigel of VanEck said.
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Dogecoin is down today after entering overbought territory, with a looming golden cross and macroeconomic factors adding to the bearish pressure for DOGE price.
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On 14 October, copycat cryptocurrencies named after SpaceX surged after the successful test launch of Elon Musk’s Starship. The coins that are not affiliated with Musk’s aerospace firm, SpaceX, garnered massive price spikes across the platform from the attention gained during the launch. Related Reading: Ripple CEO Drops Bombshell, Accuses ‘Renegade’ SEC Of Breaking The […]
Tesla’s failure to demonstrate progress in the field of autonomous vehicles appears to be making investors skittish.
Elon Musk, the CEO of Tesla and a well-known advocate for Dogecoin, has once again ignited excitement within the DOGE community. During the unveiling of Tesla’s new autonomous vehicle, the “Cybercab,” a Shiba Inu—the breed synonymous with Dogecoin—was prominently featured, sending DOGE enthusiasts into a frenzy. Dogecoin Community Reacts The official Dogecoin account on X […]
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