The crypto market is reacting euphorically to Donald Trump’s election victory – one of the biggest winners is the memecoin Dogecoin. This incredible rally will continue in 2025, says a crypto influencer.
• Trump fuels crypto rally
• Dogecoin is receiving a lot of attention from DOGE
• Influencer sees a lot of room for improvement in 2025
During his election campaign, Donald Trump ensnared the crypto community. The 78-year-old declared that he would be the “pro-Bitcoin president” that America needed and promised to leave the crypto market largely unregulated, build up a strategic Bitcoin inventory and also provide cheap electricity for Bitcoin mining . According to the Republican, his goal is to make the USA the world’s leading center for the industry.
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Dogecoin on the rise
Since Trump was confirmed as US President-elect, the crypto market has experienced a surge. Dogecoin, which has also increased significantly in price since election day, attracted particular attention.
The memecoin was driven by the hype surrounding the new “Department of Government Efficiency (DOGE)” announced by Trump. This project will be led by Elon Musk make government more efficient and lean. The acronym DOGE gave the popular memecoin with the abbreviation DOGE enormous tailwind, after all it is known to be supported by Musk. What had a reinforcing effect was that the tech visionary posted a logo for the DOGE project on his short message service
– Elon Musk (@elonmusk) November 13, 2024
Influencer predicts price explosion in 2025
In 2025, crypto influencer “Coochie Fiend,” known for sharing analysis and predictions about Dogecoin on X, expects the rally to continue. He believes that the popular dog coin can easily climb to $4.20 in this cycle, increasing more than tenfold compared to the current price level (as of December 27, 2024).
$DOGE TO $4.20 EASILY
Personal target is $6.90
Lock the fuck in #dogecoin #doge pic.twitter.com/hZ4pMiyNLj
– Coochie Fiend (@Coochie_Fiend_) December 17, 2024
Which speaks for further DOGE gains
In addition to a friendly regulatory environment under Donald Trump, Dogecoin’s positive correlation to Bitcoin could be another argument for continued price increases for Dogecoin. In past bull cycles, the fun coin has moved in step with the original cryptocurrency. Since various analysts – including Tom Dunleavy with a price target of $250,000 – are predicting strong Bitcoin development for 2025, DOGE fans also have reason to hope for a strong performance of their coin.
Increasing acceptance of Dogecoin
Although memecoins usually have no real use – this is due to their nature as a parody of established cryptocurrencies – but DOGE is an exception in this regard. It is actually accepted as a form of payment by some companies, including meme companies AMC and GameStop, where you can use it to purchase movie tickets and gaming items, respectively. At Tesla you can also use Dogecoin to buy a handful of items such as Cyberwhistle or the Giga Texas Belt Buckle.
And its acceptance continues to grow. Tesla CEO Elon Musk recently hinted at introducing Dogecoin as a means of payment for other Tesla products, including possibly when purchasing a Tesla vehicle. The dog coin fan has repeatedly supported the fun cryptocurrency with various posts over the years and, for example, declared himself the “Dogefather” in April 2021.
Editorial team finanzen.net