Release: 2024/11/06 22:54 Reading: 734
Dogecoin Surges Amidst 2024 US Presidential Election
Dogecoin (DOGE), the popular memecoin endorsed by tech magnate Elon Musk, has experienced a notable rally during the 2024 US Presidential election season.
DOGE has gained approximately 16% in the past 24 hours, making it one of the top performers during this period. Bitcoin has also reached a new all-time high of $75,300, while other memecoins such as Shiba Inu (SHIB), Pepe (PEPE), and dogwifhat (WIF) have shown strong momentum.
At press time, DOGE is trading at $0.1943, marking a monthly increase of approximately 80%. The surge in investor interest is evident in the substantial 242% rise in DOGE's 24-hour trading volume. Moreover, DOGE has surpassed XRP in market capitalization, becoming the seventh-largest cryptocurrency.
Elon Musk's Influence on DOGE's Rally
With several Republican candidates securing their positions in the election, former President Donald Trump is spearheading the campaign against Democratic candidate Kamala Harris. While many anticipate a favorable future for the US crypto market under Trump's leadership, digital assets are currently demonstrating a positive response.
Related: https://cryptotale.org/trump-memecoins-rally-over-100-as-us-election-approaches/
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