- Donald Trump announced the creation of the Department of Government Efficiency and appointed Elon Musk to lead it
- DOGE actively linked to this made another breakout to $0.43 but later experienced corrections, now trading at ~$0.37
DOGE reached $0.43 after Donald Trump announced the creation of the Department of Government Efficiency with Elon Musk leading, but experienced a series of corrections that set its price at $0.37 at the time of writing.
More About DOGE Dynamics
DOGE is showing a rapid rise ahead of Donald Trump’s victory, up 227.9% over the last month and then 78.9% over the last week.
After Donald Trump announced the creation of the Department of Government Efficiency and that it will be headed by Elon Musk – DOGE experienced another breakout to $0.43, showing a rise of almost 20%.
However, it later experienced a series of corrections, namely a sharp correction to $0.37, followed by an attempt to break through $0.40, but met with an even stronger correction to $0.34.
This was followed by several more attempts to break through $0.40, one of which was even briefly successful, but the correction brought DOGE back to $0.34, and it is now trading at ~$0.37.
At the same time, DOGE has already overtaken XRP and USDC in terms of capitalization, ranking 6th among all cryptocurrencies and still behind BNB.
Conclusion
The dynamics of DOGE is one of the fastest, while it remains the only memecoin among the top 10 more classic tokens.
Obviously, this is already a great success and shows that not only the technology but also the personalities behind the project play a fundamental role in their price.
Let’s keep watching, be aware, and stay tuned.
