According to BSC News, this jump in value is fueled by speculations tied to the U.S. election and the potential involvement of Elon Musk in a new government role if Trump wins. Meanwhile, XRP’s position has taken a hit amid these developments, marking a dynamic shift in market rankings.
Reports suggest that traders are betting on DOGE. This is due to rumors surrounding a potential government department, the “Department of Government Efficiency” (DOGE), which Trump might establish if elected.
DOGE Breaks the Key Resistance
The market remains on edge, awaiting the final results, which could impact both Dogecoin and broader crypto trends.
Bitcoin Outlook Remains Strong Regardless of Election
Meanwhile, analysts like Bernstein remain bullish on Bitcoin, projecting a six-figure target by 2025, irrespective of election results. While Dogecoin rides the wave of speculation, Bitcoin’s trajectory appears grounded in market fundamentals, suggesting potential growth ahead.
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