Elon Musk Is Back To Shilling Dogecoin, Is A 36,000% Rally Possible Again?

The world’s richest man, Elon Musk, is back to support the foremost meme coin, Dogecoin (DOGE), although indirectly. This has raised the possibility of Dogecoin rallying 36,000%, just like it did in the 2021 bull run. 

Elon Musk Is Back To Shilling Dogecoin

Elon Musk is back to shilling Dogecoin, although this time in a political way. Musk proposed that the ‘Department of Government Efficiency’ be the name of the department that Donald Trump wants him to head if elected. This name led to the acronym ‘D.O.G.E’, which has brought about a correlation with Dogecoin’s ticker, DOGE. 

Considering Musk’s fondness for Dogecoin, this move has been considered deliberate and continues to provide a bullish outlook for the foremost meme coin as the US elections draw closer. It is worth mentioning that the Dogecoin price has rallied by 31% in the last seven days, mainly thanks to Musk’s continuous use of the ‘D.O.G.E’ term in recent appearances. 

On October 17, he made an appearance at a Pennsylvania town hall meeting where he again indirectly shilled DOGE. When asked by an audience member about the proposed department, he replied, “Yeah, D.O.G.E,” leading to the Dogecoin price surging by over 15% in 24 hours. DOGE rose above $0.14 in the process, its highest price level since late July. 

Dogecoin had also rallied the previous day by over 7% after Musk made a post in which he mentioned how the ‘D.O.G.E’ department was going to ensure that politicians and bureaucrats do not pose a threat to human progress. 

The meme coin is possibly reacting more to Elon Musk’s mentions of ‘D.O.G.E’ because of the increasing likelihood that the department will come into existence. Donald Trump is currently leading the polls and has promised to appoint Musk to head this department, which will be responsible for overseeing and managing government spending. 

Will DOGE Rally 36,000% Again?

With Elon Musk shilling Dogecoin again, there have been questions about whether DOGE can enjoy a similar 36,000% rally like the one during the 2021 bull run. Musk also gave a plug to DOGE during that period and massively contributed to the meme coin’s meteoric rise to its current all-time high (ATH) of $0.78. 

A 36,000% rally for the Dogecoin price is dicey this time around as it would mean that DOGE could reach $50 in this market cycle. A rise to $50 would give DOGE a market cap of $7.3 trillion based on its circulating supply of 146.43 billion coins. This is almost impossible, considering that the crypto market has a total market cap of around $2.35 trillion. 

However, crypto analysts like Javon Marks still predict that the Dogecoin price could hit double digits in this bull run. Crypto analyst Dima James also recently suggested that the meme coin could reach $10. 

Featured image created with Dall.E, chart from Tradingview.com

#Elon #Musk #Shilling #Dogecoin #Rally

News plays a pivotal role in our lives by keeping us informed and connected to the world. It serves as a critical source of information, offering updates on current events, politics, economics, science, and more. Through news, we gain awareness of global issues and local developments, helping us make informed decisions in our personal and professional lives. News also fosters discussion and debate, encouraging critical thinking and perspective-taking. Moreover, it promotes transparency and accountability among governments, businesses, and other institutions. In a rapidly changing world, staying updated with the news enables us to adapt to new challenges and opportunities, shaping our understanding of the complexities of society. Ultimately, news is not just about information; it empowers us to participate actively in the world around us, contributing to a more informed, engaged, and responsible global citizenry.

Health is fundamental to our well-being and quality of life, making it an essential aspect of daily existence. It encompasses physical, mental, and emotional aspects, influencing our ability to function effectively and enjoy life fully. Prioritizing health allows individuals to maintain optimal physical fitness, reducing the risk of diseases and promoting longevity. Mental health, equally crucial, affects our cognitive abilities, emotional stability, and overall happiness. Investing in preventive healthcare through exercise, balanced nutrition, and regular medical check-ups helps in early detection of potential health issues, ensuring timely intervention and treatment. Beyond individual benefits, a population’s health impacts societal productivity and economic stability. Governments and organizations worldwide emphasize public health initiatives to address pandemics, health disparities, and promote overall well-being. Ultimately, health serves as the foundation upon which we build our lives, influencing our ability to pursue goals, nurture relationships, and contribute meaningfully to society.

Money plays a crucial role in our lives as a means of financial security and freedom. It enables us to meet basic needs such as food, shelter, and healthcare, while also providing opportunities for education, travel, and personal growth. Beyond material comforts, money facilitates social connections and experiences that enrich our lives. It empowers individuals to invest in their futures, whether through savings, investments, or entrepreneurial ventures, thereby fostering economic stability and growth. However, the pursuit of wealth should also be balanced with ethical considerations, as money can influence relationships and societal dynamics. Responsible management of finances is key to achieving long-term goals and mitigating financial stress. Ultimately, while money is a tool for achieving aspirations and fulfilling desires, its true value lies in how it is utilized to improve both personal well-being and the broader community.



Earning Easy Money in 2024: Opportunities and Considerations 💸

In 2024, the landscape of earning easy money presents diverse opportunities, albeit with considerations. The digital age offers platforms for freelancing, online trading, and e-commerce, allowing individuals to leverage skills and creativity for financial gain. Cryptocurrency investments continue to allure with potential for quick profits, yet they entail high volatility and risk. Moreover, the rise of the gig economy enables flexible work arrangements through apps and websites, offering quick payouts but often without job security or benefits. Passive income streams such as rental properties and investments in stocks or bonds remain viable, but demand initial capital and ongoing management. Amid these options, caution is essential to avoid scams and unsustainable ventures promising overnight success. Ultimately, while the allure of easy money persists, informed decisions, diligence, and a long-term perspective are crucial for sustainable financial growth and security in the dynamic year ahead.