Dogecoin Crypto Price Rises 145% After Trump Is Elected, Musk Appoints 'Dodge' Dept

 Dogecoin Crypto Price Rises 145% After Trump Is Elected, Musk Appoints 'Dodge' Dept


After Donald Trump won the US presidential election, Dazcoin, the cryptocurrency that Elon Musk acquired, is making good use of it. In the last five days alone, its price has increased by about 50 percent, which is higher than Ethereum and Bitcoin, according to Bloomberg.



After Trump's victory, the price of Dazcoin has so far increased by 145 percent, but it has not been able to cut its highest level so far. Dazcoin traded at an all-time high of $0.7376 in 2021.


Positive sentiment in the market and strong support from influencers like Elon Musk have been attributed to its growth. Musk publicly supports Dazquin and tweets in favor of it. In addition to this, the important role played by Trump in advancing investors' interest and demand has also strengthened it.




Madrex CEO Eidul Patel said that Musk's recent tweets have created a 'golden cross' i.e. a 'bullish trend' in Dogecoin, which indicates further growth in the coming days. According to Patel, Dazcoin price is currently facing resistance at $0.463370 while support is at $0.240350.


Meanwhile, Trump has appointed Elon Musk as the head of the Department of Government Efficiency (DOGE). Interestingly, the name of the cryptocurrency supported by Musk and the acronym of the body formed to appoint him are the same.




According to experts in the crypto industry, this shows the potential for further growth in the market. Trump's favoritism towards crypto and the hope of a more positive regulatory environment have increased the hopes of investors in crypto-currencies including Dazcoin.


Along with Dazcoin, Kronos has achieved 185 percent, Nero 118 percent, Cardano 80 percent and Pepe 75 percent. Caroline Bowler, CEO of digital asset exchange BTC Markets Pty, said that the rise of Bitcoin has also had a rapid impact on other cryptos. "The region is expected to benefit from the Trump administration in the long term," she said.

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