The dog-themed meme token Dogecoin soared almost 6% right this moment as Tesla & SpaceX CEO Elon Musk reacted DOGE to Donald Trump’s supply for a cupboard function if elected. Today, the American entrepreneur took to X, showcasing his readiness for the proposed supply, which he additionally named DOGE (Department of Government Efficiency).
This occasion unfolds within the aftermath of the Republican’s current statements, which hinted at plans to faucet Musk for a cupboard function. Dogecoin’s worth soared almost 6% right this moment, fueling enthusiasm in tandem with the Tesla CEO’s feedback.
Elon Musk Accepts Trump’s Offer, Names It DOGE
The American entrepreneur posted on X right this moment, August 20, claiming, “I am willing to serve,” indicating his readiness for a cupboard function. Further, he posted a pic of himself that learn D.O.G.E (Department of Government Efficiency). This assertion has echoed a bustle nationwide, hinting at Musk’s potential plans to affix the Republican presidential candidate ought to he be elected.
Meanwhile, a current report by CoinGape Media spotlighted that Donald Trump offered the Tesla CEO a place in his cupboard or advisory crew. Concerning this, one other publish by the American entrepreneur right this moment acknowledged that DOGE sounds just like the “perfect name” for the potential cupboard function.
Meanwhile, DOGE’s worth soared almost 6% in tandem with Musk’s statements, sparking investor enthusiasm globally.
Dogecoin Price Soars
As of writing, DOGE worth soared 6% to commerce at $0.1052 on Tuesday, August 20. The meme token’s 24-hour lows and highs had been recorded as $0.09871 and $0.1055, respectively.
The pumping worth motion comes towards the backdrop of a market uptrend, as additionally spotlighted by Coinglass data. Dogecoin’s futures OI jumped 9% to $514.74 million, whereas the derivatives quantity surged 76% to $1.10 billion. This knowledge additional solidifies optimism on the token.
However, the 14-day RSI rested at 47 right this moment, hinting at broader neutrality for the asset. Nevertheless, Elon Musk’s statements seem to have introduced important consideration to the dog-themed meme token in mild of the continuing U.S. presidential campaigns.
Also, Donald Trump currently dominates in polls, as a current report by CoinGape Media spotlighted. The U.S. eagerly awaits the November elections, given the Republican’s victory might provoke the abovementioned cupboard function, a possible game-changer for the nation.
Coingape Staff
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