Dogecoin soars after Trump election win: What you need to know November 14, 2024

Dogecoin soars after Trump election win: What you need to know November 14, 2024

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Dogecoin has gained 122% in price since Donald Trump won the US presidential election.

According to CoinDesk, dogecoin soared over 100% to more than double in value from less than 16 cents before election day to close to 38 cents as of Wednesday afternoon. This comes on the heels of wider copyright growth, with Bitcoin hitting an all-time high above USD 93k.

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According to specialists, the value of copyright raised because Trump has a positive attitude towards digital currencies. Trump called for U.S. strategic reserve of bitcoin, said America to become "the copyright capital of the planet"

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Ro Dogecoin's moementum, open a New Window. — Elon Musk a major cheerleader of the copyright currency and inside update to Trump will spearhead up the now announced "department of government efficiency." DOGE stands for Department of Office Guidance, which will function as a non-governmental department that can provide advice and guidance to the White House.

Over the years, Musk has had a history with Dogecoin — even making an appearance as 'The Dogefather' on Saturday Night Live and previously suggesting that Twitter could use the copyright for subscription payments.

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Dogecoin attracted an enthusiastic community, having started off as a joke. Advocates say that cryptocurrencies such as Dogecoin provide a viable decentralised means of supporting online transactions, independent of central bank or government interference

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