Donald Trump can contribute to the significant growth of Dogecoin

A cryptocurrency analyst known as Cephil suggested that the price of Dogecoin DOGE $0.23 Department Of Government Efficiency 6.63% Market capitalization $0.22 billion VOL. 24 hours $0.67 billion could rise significantly after the inauguration of the new US president. According to him, the historical pattern is repeating itself: after Joe Biden’s inauguration in 2021, Dogecoin grew by almost 1100% in a short time.

Another analyst, who goes by the pseudonym Chandler, recalled that DOGE hit an all-time high eight days after Biden’s inauguration. In order to repeat this record, the price of the leading meme-coin should double to $ 0.7316.

Donald Trump’s inauguration is causing optimism among cryptocurrency supporters, especially given the creation of a new agency, the Department of Government Efficiency, or DOGE, which is rumored to be headed by Elon Musk. The new government is also expected to take steps toward regulating cryptocurrencies, including signing executive orders that could have a positive impact on the market.

At the time of writing, the price of Dogecoin was $ 0.36, which is 5.3% higher than yesterday. At the same time, the token grew by 12.5% over the year, although this is significantly less compared to the 273% increase in 2024.