Dogecoin

Donald Trump

<p>The Dogecoin (DOGE) has crossed the $0.21 mark, driven by speculation surrounding a possible victory of Donald Trump and the enigmatic allusions of Elon Musk. This spectacular surge illustrates the growing impact of American politics on the crypto market.</p>
<h2 id="h-une-performance-remarquable-portee-par-le-contexte-politique">An impressive performance driven by the political context</h2>
<p>On November 6, 2024, <a href="https://www.cointribune.com/en/crypto-why-are-84-of-dogecoin-holders-still-in-profit/" target="_blank" rel="noopener noreferrer nofollow">Dogecoin (DOGE) experienced a spectacular rise</a> of 30% in 24 hours, propelling its market capitalization to $30 billion. This performance allows it to dethrone Ripple (XRP) and secure the 7th place among the most valued cryptos. The progression is part of a larger bullish movement in the crypto market, with Bitcoin reaching historic highs at $74,504.</p>
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<p>The enthusiasm around DOGE <a href="https://decrypt.co/290358/dogecoin-rallies-to-five-month-high-on-us-election-wave" target="_blank" rel="noopener noreferrer nofollow">is particularly explained</a> by Donald Trump’s recent pro-crypto statements, contrasting with the more reserved position of the current administration.</p>
<p>The concept of a “Department of Government Efficiency” (DOGE), mentioned by Trump and Musk, has particularly fueled investor speculation.</p>
<p><a href="https://www.cointribune.com/en/the-unlikely-find-of-elon-musk-to-sway-the-elections-in-favor-of-trump/" target="_blank" rel="noopener noreferrer nofollow">Elon Musk’s implicit support</a>, an emblematic figure in the crypto sphere, also reinforces investor confidence. His enigmatic tweets and appearances alongside Trump have helped create favorable momentum around the crypto.</p>
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<h2 id="h-un-trump-trade-qui-bouleverse-le-marche-crypto">A “Trump trade” that shakes up the crypto market</h2>
<p>The phenomenon, dubbed “Trump trade” by analysts, reflects the anticipation of a more favorable policy towards cryptocurrencies in the event of a victory by the former president. This dynamic is part of a broader context of transformation in the American crypto landscape, marked by <a href="https://www.cointribune.com/en/bitcoin-etfs-approach-historic-milestone-of-one-million-btc-under-management/" target="_blank" rel="noopener noreferrer nofollow">the growing adoption of Bitcoin ETFs</a>.</p>
<p>Institutional investors seem particularly sensitive to this new political dynamic. The prospect of a looser regulatory framework under a potential Trump administration is stimulating capital inflows, indirectly benefiting Dogecoin.</p>
<p>This trend could continue according to Josh Gilbert, an analyst at eToro, who believes that “this bullish market has a lot of weight behind it, and this could keep driving the asset up.”</p>
<p>Dogecoin, initially created as a parody of Bitcoin, once again demonstrates its ability to capture investor attention. Although still below its historic record of $0.73, its recent performance shows the persistence of its influence in the <a href="https://www.cointribune.com/en/the-new-withdrawal-of-bitcoin-investors-surprises-the-market/" target="_blank" rel="noopener noreferrer nofollow">crypto ecosystem</a>.</p>

Trump’s Victory, A Jackpot For Dogecoin Crypto?

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