The dog-themed meme token Dogecoin soared almost 6% as we speak as Tesla & SpaceX CEO Elon Musk reacted DOGE to Donald Trump’s supply for a cupboard function if elected. Right this moment, the American entrepreneur took to X, showcasing his readiness for the proposed supply, which he additionally named DOGE (Division of Authorities Effectivity).
This occasion unfolds within the aftermath of the Republican’s current statements, which hinted at plans to faucet Musk for a cupboard function. Dogecoin’s value soared almost 6% as we speak, fueling enthusiasm in tandem with the Tesla CEO’s feedback.
Elon Musk Accepts Trump’s Provide, Names It DOGE
The American entrepreneur posted on X as we speak, August 20, claiming, “I’m keen to serve,” indicating his readiness for a cupboard function. Additional, he posted a pic of himself that learn D.O.G.E (Division of Authorities Effectivity). This assertion has echoed a bustle nationwide, hinting at Musk’s potential plans to affix the Republican presidential candidate ought to he be elected.
In the meantime, a current report by CoinGape Media spotlighted that Donald Trump supplied the Tesla CEO a place in his cupboard or advisory crew. Regarding this, one other submit by the American entrepreneur as we speak said that DOGE sounds just like the “good identify” for the potential cupboard function.
In the meantime, DOGE’s value soared almost 6% in tandem with Musk’s statements, sparking investor enthusiasm globally.
Dogecoin Worth Soars
As of writing, DOGE value soared 6% to commerce at $0.1052 on Tuesday, August 20. The meme token’s 24-hour lows and highs have been recorded as $0.09871 and $0.1055, respectively.
The pumping value motion comes towards the backdrop of a market uptrend, as additionally spotlighted by Coinglass data. Dogecoin’s futures OI jumped 9% to $514.74 million, whereas the derivatives quantity surged 76% to $1.10 billion. This knowledge additional solidifies optimism on the token.
Nevertheless, the 14-day RSI rested at 47 as we speak, hinting at broader neutrality for the asset. However, Elon Musk’s statements seem to have introduced important consideration to the dog-themed meme token in mild of the continuing U.S. presidential campaigns.
Additionally, Donald Trump presently dominates in polls, as a current report by CoinGape Media spotlighted. The U.S. eagerly awaits the November elections, given the Republican’s victory may provoke the abovementioned cupboard function, a possible game-changer for the nation.
Disclaimer: The offered content material might embrace the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn’t maintain any duty in your private monetary loss.
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