{"id":125638,"date":"2024-11-14T06:20:51","date_gmt":"2024-11-13T23:20:51","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=125638"},"modified":"2024-11-14T06:20:51","modified_gmt":"2024-11-13T23:20:51","slug":"dogecoin-soars-as-trump-announces-a-government-efficiency-group-nicknamed-doge","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=125638","title":{"rendered":"Dogecoin soars as Trump announces a government efficiency group nicknamed DOGE"},"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>\n<p>NEW YORK (AP) \u2014 Wow, much bull market.<\/p>\n<p>Dogecoin, the cryptocurrency whose mascot is a super-cute dog that muses things like \u201cmuch wow,\u201d has been racing higher in value since Donald Trump won the presidential election last week. It got another bump after Trump named Tesla\u2019s Elon Musk as one of the heads of a new <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/donald-trump-president-elon-musk-vivek-ramaswamy-2f0f76bb6440231f2504b77cb117d988\">\u201cDepartment of Government Efficiency,\u201d<\/a><\/span> which is not a government agency but does have the acronym DOGE. <\/p>\n<p>All this makes sense and is maybe humorous for anyone who\u2019s chronically online. For others, here\u2019s some explanation about what\u2019s going on:<\/p>\n<h2>What is dogecoin?<\/h2>\n<p>It\u2019s a cryptocurrency, whose value rises and falls against the U.S. dollar based on however much people will pay for it. <\/p>\n<p>At first, it was seen as a joke. But over time, dogecoin has amassed a group of fans who have periodically sent its price soaring. Like other cryptocurrencies, supporters say it could be used to buy and sell things on the internet without having to worry about a central bank or government affecting how many are in circulation. <\/p>\n<h2>How much has dogecoin climbed?<\/h2>\n<p>One dogecoin \u2014 which is pronounced dohj-coin \u2014 was worth less than 16 cents just before Election Day. It\u2019s since more than doubled to nearly 38 cents, as of Wednesday afternoon, according to CoinDesk. It briefly got above 43 cents earlier Wednesday. <\/p>\n<h2>Why is it climbing so much?<\/h2>\n<p><span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/bitcoin-price-record-trump-election-rally-crypto-9a22f5b5ce24824d7df5a3ab4a58e8a0\">Cryptocurrencies have generally been shooting higher<\/a><\/span> since Trump\u2019s election. Bitcoin, which is the most famous digital currency, has set an all-time high above $93,000 after starting the year below $43,000. <\/p>\n<p>Excitement is racing because Trump has <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/donald-trump-bitcoin-cryptocurrency-stockpile-6f1314f5e99bbf47cc3ee6fc6178588d\">embraced crypto<\/a><\/span> and said he wants the United States to be the \u201ccrypto capital of the planet\u201d and create a bitcoin \u201cstrategic reserve.\u201d <\/p>\n<h2>What does Elon Musk have to do with any of this?<\/h2>\n<p>Musk has become one of Trump\u2019s close allies. He\u2019s also been one of the most famous fans of dogecoin. In 2021, Musk played a character on \u201cSaturday Night Live\u201d who went by the nickname, the \u201cDogefather.\u201d <\/p>\n<p>In 2022, Musk made more headlines when he suggested <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/spacex-technology-business-elon-musk-social-media-a3ea53193baec9626b0e42489c674218\">Twitter should perhaps accept dogecoin as payment<\/a><\/span> for subscriptions. <\/p>\n<p>It all came to a head Tuesday, when Trump announced the \u201cDepartment of Government Efficiency,\u201d which will work from outside the government to offer the White House \u201cadvice and guidance\u201d and will partner with the Office of Management and Budget to \u201cdrive large scale structural reform, and create an entrepreneurial approach to Government never seen before.\u201d <\/p>\n<p>It has the acronym DOGE, which is also the ticker symbol under which dogecoin trades. Musk will lead it, along with former GOP presidential candidate Vivek Ramaswamy.<\/p>\n<h2>This all sounds weird.<\/h2>\n<p>Dogecoin\u2019s history is interesting. <\/p>\n<p>In 2021, on April 20, dogecoin fans tried but failed to get its value above $1 on what they were calling <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/cryptocurrency-technology-business-8462b437bb9ddaf821e49aff7a2bc5d6\">\u201cDoge Day.\u201d <\/a><\/span><\/p>\n<p>April 20 has long been an unofficial holiday for marijuana devotees, and Musk himself has referred to 420 several times in his career, including his tweet in 2018 saying he had secured funding to take Tesla private at a price of <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/elon-musk-technology-san-francisco-lawsuits-business-dc203e6eefa40cb29db82d31308b372a\">$420 per share<\/a><\/span>.<\/p>\n<h2>Is the Shiba Inu whose picture is in the meme getting special treats because of all this? <\/h2>\n<p>Sadly, no. The dog, whose real name was Kabosu, <span class=\"LinkEnhancement\"><a class=\"Link AnClick-LinkEnhancement\" data-gtm-enhancement-style=\"LinkEnhancementA\" href=\"https:\/\/apnews.com\/article\/dogecoin-dog-kabosu-shiba-inu-cryptocurrency-0c51b88ae457dd6eb61b05c7e87174d9\">passed away in Japan<\/a><\/span> earlier this year at 18 years old. Much rest, may she have. <\/p>\n<\/p><\/div>\n<p><script>\n  window.fbAsyncInit = function() {\n      FB.init({\n              appId : '870613919693099',\n          xfbml : true,\n          version : 'v2.9'\n      });\n  };\n  (function(d, s, id){\n     var js, fjs = d.getElementsByTagName(s)[0];\n     if (d.getElementById(id)) {return;}\n     js = d.createElement(s); js.id = id;\n     js.src = \"https:\/\/connect.facebook.net\/en_US\/sdk.js\";\n     fjs.parentNode.insertBefore(js, fjs);\n   }(document, 'script', 'facebook-jssdk'));\n<\/script><br \/>\n<br \/><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:\/\/apnews.com\/article\/dogecoin-trump-doge-musk-crypto-5a6f9d61ad7c5d4fc94f567dd9ee090e\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>NEW YORK (AP) \u2014 Wow, much bull market. Dogecoin, the cryptocurrency whose mascot is a super-cute dog that muses things like \u201cmuch wow,\u201d has been racing higher in value since &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=125638\" 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-125638","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125638","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=125638"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/125638\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}