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Elon Musk will significantly affect the Dogecoin rate
American businessman Elon Musk has focused on improving the efficiency of the Department of Government Effectiveness (D.O.G.E.). By doing so, he is helping to increase the value of the Dogecoin cryptocurrency DOGE $0.24 Department Of Government Efficiency 4.23% Market capitalization $0.24 billion VOL. 24 hours $2.18 billion , which is already preparing for a significant price increase in the near future.
As you know, the price of Dogecoin has risen significantly due to Elon Musk’s recent initiatives, in particular his work to improve the efficiency of the Department of Governmental Activities (D.O.G.E.). This has contributed to the growth of investor confidence in meme coins, including Dogecoin.
Elon Musk and Vivek Ramaswamy, who were appointed to lead this department, have already announced major strategic steps. They will help improve the work of government agencies, which has also increased interest in cryptocurrencies.
In addition, Dogecoin’s popularity is growing thanks to the predictions of well-known analysts such as Raul Pell.
He foresees a new rally for the cryptocurrency, as well as the activity of large investors, in particular, «whales» that have already accumulated significant amounts of DOGE.
Ali Martinez, a well-known cryptocurrency market analyst, also emphasized the growing activity of whales in the Dogecoin market, indicating that the cryptocurrency is ready for a potential rally.
According to him, over the past week, whales have collected more than 550 million DOGE with an estimated value of $ 214.5 million.
Thus, the potential for Dogecoin to rise to $ 2.4 is becoming realistic, which further stimulates the market.
At the time of writing, the Dogecoin rate reached $ 0.3878, the market capitalization is $ 56.97 billion, and daily sales reached $ 8.70 billion.
Photo: coinmarketcap.com/