{"id":124604,"date":"2024-11-11T13:14:03","date_gmt":"2024-11-11T06:14:03","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=124604"},"modified":"2024-11-11T13:14:03","modified_gmt":"2024-11-11T06:14:03","slug":"dogecoin-swells-29-becomes-sixth-largest-crypto-as-investors-await-elon-musk-headed-doge-department-under-trump","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=124604","title":{"rendered":"Dogecoin Swells 29%, Becomes Sixth-Largest Crypto As Investors Await Elon Musk-Headed DOGE Department Under Trump"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div id=\"article-body\" itemprop=\"articleBody\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/Article\">\n<div>\n<p><strong>Dogecoin <\/strong><span class=\"ticker\" data-ticker=\"DOGE\/USD\" data-exchange=\"CRYPTO\" style=\"display: inline-block;\">DOGE\/USD<\/span> continued to defy gravity on soaring expectations of an <strong>Elon Musk<\/strong>-headed Department of Government Efficiency (DOGE) under President-elect <strong>Donald Trump.<\/strong><\/p>\n<p><strong>What happened<\/strong>: The king of dog-themed cryptocurrencies ballooned over 29% in the last 24 hours, rising to the sixth position of the largest cryptocurrencies by market capitalization.<\/p>\n<p>The token\u2019s trading volume spiked 220% to over $17 billion in the last 24 hours, making it the fourth-most traded cryptocurrency in the said period.<\/p>\n<p>Sunday&#8217;s rally boosted Dogecoin&#8217;s weekly gains to over 93%, making it the best-performing large-cap digital asset during the election week.\u00a0<\/p>\n<p><strong>See Also<\/strong>: <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/11\/41796743\/ethereum-whales-wake-up-from-slumber-to-cash-out-90m-amid-rally-but-indicators-show-sentim\"><strong>Ethereum Whales Wake Up From Slumber To Cash Out $90M Amid Rally, But Indicators Show Sentiment Can Flip<\/strong><\/a><\/p>\n<p>DOGE enthusiasts have been in high spirits ever since Trump&#8217;s presidential win, hoping that Musk, considered a close ally of the President-elect, <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41220500\/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co\">would likely get to lead the so-called DOGE department<\/a>.<\/p>\n<p>Musk has been touting DOGE across posts on his social media platform, X, to political rallies leading up to the election, triggering sharp but short-lived rallies for the associated meme coin.<\/p>\n<p>The rationale behind setting up the department was to cut through the tangle of federal bureaucracy and<a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/10\/41220500\/elon-musk-says-potential-doge-department-under-a-trump-administration-will-be-a-garbage-co\"> weed out excessive regulations<\/a> that &#8220;don&#8217;t make sense&#8221;.<\/p>\n<p><strong>Why It Matters: <\/strong>While there was nothing else as of this writing to support Hoskinson&#8217;s statements, speculation pointed to a place in <a href=\"https:\/\/www.benzinga.com\/markets\/cryptocurrency\/24\/07\/40001426\/trump-aims-to-make-us-crypto-capital-of-the-planet-well-get-it-done\">Trump\u2019s cryptocurrency presidential advisory council<\/a>, which was mentioned as part of his election promise earlier this year.<\/p>\n<p>Influential cryptocurrency analyst <strong>Ali Martinez <\/strong>predicted the token to go &#8220;parabolic,&#8221; hitting a price range of $3.95 to $23.26.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"\/>\n<p><strong>Price Action:<\/strong> At the time of writing, DOGE was exchanging hands at $0.2949. up 29.20% in the last 24 hours, according to <a href=\"https:\/\/pro.benzinga.com\/dashboard?_gl=1*380nj0*_ga*MTEyOTAyOTcxMy4xNzEzMzY0NTYy*_ga_V7ZK73W7N0*MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..\">data from Benzinga Pro<\/a>.<\/p>\n<p><strong>Read Next:<\/strong><em>\u00a0<\/em><\/p>\n<p><em>Photo courtesy: Shutterstock<\/em><\/p>\n<\/p><\/div>\n<p><a class=\"text-sm my-4\" href=\"https:\/\/www.benzinga.com\/apis?utm_source=benzinga.com&amp;utm_campaign=article-bottom\" rel=\"noreferrer noopener\" target=\"_blank\">Market News and Data brought to you by Benzinga APIs<\/a><\/p>\n<p class=\"copyright\">\u00a9 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.benzinga.com\/trading-ideas\/movers\/24\/11\/41871148\/dogecoin-swells-29-becomes-sixth-largest-crypto-as-investors-await-elon-musk-headed-doge-department-under-trump\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dogecoin DOGE\/USD continued to defy gravity on soaring expectations of an Elon Musk-headed Department of Government Efficiency (DOGE) under President-elect Donald Trump. What happened: The king of dog-themed cryptocurrencies ballooned &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=124604\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-124604","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/124604","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=124604"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/124604\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=124604"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=124604"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=124604"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}