What influence does Trump appoint Elon Musk to his cabinet as D.O.G.E?

[Zerologic]

As news scattered that Trump has appointed Elon Musk as head of the Department of Government Efficiency (DOGE), this role seems to be in line with Musk's love for the meme coin DOGE, so that the term DOGE coin is often going to the moon because of Musk's influence in his tweets.

So how will Musk influence the DOGE coin in the future? Is it possible to bring this meme coin to jump $1? Currently, DOGE's value has risen more than 100%, even overtaking Bitcoin, which has increased by less than 100%.

Elon Musk's Doge support doesn't seem to be over yet. Musk has stated several times that he is interested in developing Dogecoin further. In fact, he proposed an update that could make Dogecoin more efficient and faster to use in daily transactions.

Musk has collaborated with the Dogecoin development team to optimize the Dogecoin system, making it more competitive compared to other cryptocurrencies. This news might increase support for DOGE. However, the market always has pros and cons, currently the Fear and Greed indicator has shown a value of more than 85, which means there is a possibility of a reversal if the value is close to 100 when investors take large profit-taking actions that can push prices to drop further.

 

[Simon54]

After Trump’s win in the US election, I felt pretty confident that Musk unique support for Trump, along with his influence, would lead to some major returns. Not only did his involvement in the US cabinet as the D.O.G.E. play a role, but both Dogecoin and Tesla shares skyrocketed following his victory. For Dogecoin in particular, I believe there’s a strong chance it could surpass $1 by January, especially with Trump moving back into the White House. Keeping an close eye.

 

[Zerologic]

Even though some people around Musk may not like Musk's attitude in the Trump administration, it seems that having Elon Musk in Trump's cabinet could contribute greatly to future crypto regulations allowing for more relaxed.