{"id":17949,"date":"2024-11-05T09:37:48","date_gmt":"2024-11-05T09:37:48","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=17949"},"modified":"2024-11-05T09:37:48","modified_gmt":"2024-11-05T09:37:48","slug":"dogecoin-doge-soars-10-after-musks-appearance-on-joe-rogans-podcast-details","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=17949","title":{"rendered":"Dogecoin (DOGE) Soars 10% After Musk\u2019s Appearance on Joe Rogan\u2019s Podcast: Details"},"content":{"rendered":"

TL;DR<\/strong><\/p>\n

Dogecoin pumped substantially following Elon Musk\u2019s latest comments on a possible \u201cD.O.G.E.\u201d government department.
\nAnalysts speculate on DOGE\u2019s potential for $1, with some citing Trump\u2019s possible victory as a factor that could drive sustained hype.<\/p>\n

<\/a><\/p>\n

DOGE\u2019s Rally<\/h2>\n

The cryptocurrency sector is slightly <\/span>in the<\/span> red today (November 5), with its global market capitalization dropping by over 2% to around $2.38 trillion (per CoinGecko\u2019s data). Bitcoin (BTC) currently trades at around $68,500 (roughly the same level witnessed 24 hours ago), while Ethereum (ETH) is down by 1.7%.\u00a0<\/span><\/p>\n

One leading digital asset that is defying the negative trend is Dogecoin (DOGE). The <\/span>OG<\/span> meme coin experienced a 10% price increase <\/span>on a daily scale<\/span>, rising to almost $0.17.
\n<\/span><\/p>\n

<\/a>DOGE Price, Source: CoinGecko<\/p>\n

Its impressive performance could <\/span>be attributed<\/span> to Elon Musk\u2019s <\/span>comments<\/span><\/a> during his recent appearance on Joe Rogan\u2019s podcast. Tesla\u2019s <\/span>CEO<\/span> once again <\/span>talked about<\/span> establishing a Department of Government Efficiency (<\/span>D.O.G.E.<\/span>) should Donald Trump win the <\/span>US<\/span> presidential elections.<\/span><\/p>\n

This time, Musk shed much more details, claiming the potential division will aim to solve the problem with \u201cthe suffocating massive federal bureaucracy\u201d and control the government\u2019s spending, which has gone through the roof in the past years.\u00a0<\/span><\/p>\n

\u201cOur interest payments on national debt now exceed the Defense Department budget. America is on the path to bankruptcy, so we have to cut government spending, or we <\/span>are just going to<\/span> go bankrupt just like a person would if he overspends.\u201d<\/span><\/p>\n

Tesla\u2019s boss is a <\/span>huge<\/span> supporter of Dogecoin and one of the most influential people who publicly endorsed Trump for president. As such, it is safe to assume that the final results of the elections could trigger additional price volatility for DOGE.\u00a0<\/span><\/p>\n

Is the $1 Target Plausible?<\/span><\/h2>\n

Numerous analysts noted DOGE\u2019s resurgence, envisioning further increases in the future. One of those who chipped in was the X user Satoshi Flipper.<\/span><\/p>\n

The trader believes a Trump victory could result in a Dogecoin price rally to as high as $1 due to the constant potential interactions about the Department of Government Efficiency in the next four years.<\/span><\/p>\n

#DOGECOIN<\/a>\/usdt WEEKLY$DOGE<\/a> hodlers are going to be so happy when Musk & the US government post about the Department of Government Efficiency ( D.O.G.E ) NON-STOP for the next 4 years<\/p>\n

If Trumps wins, $DOGE<\/a> \u2014> $1 pic.twitter.com\/csowJCIOGA<\/a><\/p>\n

\u2014 Satoshi Flipper (@SatoshiFlipper) November 4, 2024<\/a><\/p>\n\n

Hitting the $1 milestone seems unlikely at the moment, considering that the meme coin\u2019s market cap must rise above $140 billion for that to happen. <\/span>DOGE\u2019s capitalization stands at around $24.5 billion, but let\u2019s not forget that it exploded above $90 billion in May 2021.<\/span><\/p>\n

The post Dogecoin (DOGE) Soars 10% After Musk\u2019s Appearance on Joe Rogan\u2019s Podcast: Details<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

TL;DR Dogecoin pumped substantially following Elon Musk\u2019s latest comments on a possible \u201cD.O.G.E.\u201d government department. Analysts speculate on DOGE\u2019s potential for $1, with some citing Trump\u2019s possible victory as a factor that could drive sustained hype. DOGE\u2019s Rally The cryptocurrency sector is slightly in the red today (November 5), with its global market capitalization dropping […]<\/p>\n","protected":false},"author":0,"featured_media":17950,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17949","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17949"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17949"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17949\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17950"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17949"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17949"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17949"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}