Dogecoin price is on an unstoppable run fueled by multiple factors from Elon Musk’s Department of Government Efficiency (DOGE) proposal to a technical breakout in DOGE chart. As a result, crypto market participants’ speculation on DOGE price to $1 has risen considerably as it skyrocketed by more than 35% this month.
Elon Musk’s DOGE Proposal Fuels Dogecoin Price
Elon Musk’s significant support to re-elect Donald Trump and his participation in rallies have boosted Trump’s odds of winning the 2024 presidential election. Trump’s win will direct the establishment of the Department of Government Efficiency (DOGE) in his administration, which may also cause Dogecoin price to hit $1.
Polymarket data shows Donald Trump’s odds of winning climbed to 66%, a 22% gap against Democrat Kamala Harris just ahead of the election. Trump’s support of Bitcoin and crypto regulation to bring a paradigm change in the crypto industry.
As CoinGape reported, Elon Musk predicted saving at least $
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