Dogecoin Price Jumps 25% To Lead Market Gains, Why A Donald Trump Win Is Especially Bullish For DOGE

The Dogecoin price has experienced a massive pump, rising by a whopping 25% to guide current market gains. This notable increase comes on the heels of the US Presidential election, where many crypto analysts view a possible Donald Trump win as an incredibly bullish consequence for the Dogecoin price. Furthermore, Trump has publicly endorsed a recent proposal by SpaceX and Tesla CEO Elon Musk to ascertain the Department of Governance Efficiency (D.O.G.E), fueling more positive market sentiment for the highest meme coin.

Dogecoin Price Soars 25% In One Day

Within the last 24 hours, the Dogecoin price has shocked the meme coin and broader crypto market with a substantial value surge. This top meme coin has climbed by a whopping 25% and is repeatedly growing.

The rapid rise in the value of Dogecoin to the $0.2 milestone aligns with the recent uptick within the crypto market, as top cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) are also seeing a big upsurge. A mixture of investor optimism regarding the potential establishment of Musk’s Department of Governance Efficiency and the US Presidential elections has led to the recent bullish sentiment and uptick within the Dogecoin price.

On November 4, the crypto market was in a holding position, with investors taking over a wait-and-see approach ahead of the US Presidential election results. With early results already coming in, many investors have already predicted that a Trump win may lead to a big bull run for Dogecoin.

These predictions are grounded in the brand new crypto narrative, D.O.G.E, spearheaded by Musk. The Dogecoin meme coin is ready to realize recent significance, with many within the crypto community likening Musk’s D.O.G.E acronym to reference the favored meme coin.

Given the strong influence of social sentiment and market trends on meme coins, many speculate that if Musk successfully establishes the Department Of Governance Efficiency with Trump’s support, Dogecoin could grow to be one in every of the official cryptocurrencies. Such a bullish move may lead to an unprecedented rally for the Dogecoin price.

What A Trump Win Means For The Dogecoin Price

Quite a few crypto analysts are betting big on the probability that a Trump win may lead to a significantly bullish outlook for the Dogecoin price. Notably, crypto analyst Shelby has disclosed on X (formerly Twitter) that DOGE has been showcasing strong performance and momentum recently, skyrocketing as if Trump has already won the US election.

He predicts that if Trump wins the continuing Presidential elections, the Dogecoin price may lead the meme coin market because it experiences a “parabolic rally.” Similarly, a Dogecoin supporter on X, identified as ‘Dogegod,’ has projected that the value of the meme coin will reach the coveted $1 mark when Trump wins the US election.

Source: X

Quite a few crypto community members and analysts share this bullish sentiment, citing Musk’s D.O.G.E proposal and Trump’s endorsement as major catalysts for a Dogecoin bull run.