Dogecoin price could rise to $1 thanks to Elon Musk’s master plan

Analysts from Cryptonomist expect the price of Dogecoin (DOGE) to reach the long-awaited $1 mark in the coming months. This forecast is reinforced by the potential impact of Donald Trump’s victory in the US presidential election.

There is speculation that Elon Musk will have a prominent role in the Republican presidential administration, which will bring new opportunities to the memecoin that Musk has supported for a long time.

New government commission: DOGE in sight?

During the Trump campaign, the creation of a new government commission was promoted: the Department of Government Efficiency, or DOGE for short. It seems that Musk, who would have a key role within this committee, consciously refers to the popular memecoin.

Analysts expect that the influential CEO of Tesla and X can further fuel the hype around Dogecoin in this role.

Elon Musk’s lasting impact on Dogecoin

Musk has proven himself for years as an important factor in the group’s success Dogecoin. His tweets and public support have pushed the price to new heights several times in the past. With a potentially prominent position in the US government, his influence would only increase. This could attract new investors and add to a potential high rate for DOGE.

Analysts predict that the Dogecoin price online Could increase to $1. That would represent an increase of about 37% from the all-time high of $0.73.

400% increase in prospects?

A price of $1 would be a huge milestone for Dogecoin. To achieve this, the altcoin price would have to increase by almost 400% from the current level of $0.23. But it seems that the trend is already there: in the last 24 hours, the price of Dogecoin rose by 12%. This increase is largely due to the victory of the Republican party in the US elections, which has made the market optimistic.

Temporary promotion: get €25 free at Bitvavo

To mark the price increase, the Dutch crypto exchange Bitvavo is offering a special promotion in collaboration with Newsbit: all new customers will receive for a short time €25 free when they create an account via the button​​​​​​​ below.

Get your free €25 and create an account with Bitvavo

Don’t miss this opportunity to benefit immediately from the growing popularity of crypto!