The dog-themed meme token Dogecoin soared practically 6% as we speak as Tesla & SpaceX CEO Elon Musk reacted DOGE to Donald Trump’s supply for a cupboard position if elected. As we speak, 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 latest statements, which hinted at plans to faucet Musk for a cupboard position. Dogecoin’s worth soared practically 6% as we speak, fueling enthusiasm in tandem with the Tesla CEO’s feedback.
Elon Musk Accepts Trump’s Supply, Names It DOGE
The American entrepreneur posted on X as we speak, August 20, claiming, “I’m prepared to serve,” indicating his readiness for a cupboard position. 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 latest report by CoinGape Media spotlighted that Donald Trump offered 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 “excellent title” for the potential cupboard position.
In the meantime, DOGE’s worth soared practically 6% in tandem with Musk’s statements, sparking investor enthusiasm globally.
Dogecoin Worth Soars
As of writing, DOGE worth soared 6% to commerce at $0.1052 on Tuesday, August 20. The meme token’s 24-hour lows and highs had been recorded as $0.09871 and $0.1055, respectively.
The pumping worth motion comes in opposition to 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 gentle of the continued U.S. presidential campaigns.
Additionally, Donald Trump currently dominates in polls, as a latest report by CoinGape Media spotlighted. The U.S. eagerly awaits the November elections, given the Republican’s victory may provoke the abovementioned cupboard position, a possible game-changer for the nation.
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Disclaimer: The introduced content material could embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
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