The Dogecoin price is the biggest gainer among the top cryptos by market cap on the eve of the US election. This says a lot about how the foremost meme coin could benefit most from a potential Donald Trump victory, especially with Elon Musk’s involvement.
Why Dogecoin Could Benefit The Most If Donald Trump Wins
Crypto analysts have provided a bullish outlook for Dogecoin and suggested that the meme coin is in the best position to benefit from Donald Trump’s potential win in the US presidential elections. In an X post, crypto analyst and trader Satoshi Flipper predicted that the top meme coin could rise to $1 if Trump wins.
He made this prediction while remarking that Elon Musk and the US government (under the Trump administration) will post above about the Department of Government Efficiency (D.O.G.E) non-stop for the next four years. Musk’s proposed D.O.G.E has pumped the DOGE price several times, especially whenever the world’s richest man referred to it, including at a Pennsylvania town hall last month.
D.O.G.E, a term Musk coined, could be his way of indirectly shilling the meme coin in this bull run. The world’s richest man has never hidden his fondness for the meme coin because he likes memes and dogs.
Interestingly, Musk recently posted a meme in which he joked about mainstream media having to cover D.O.G.E. At the same time, he remains silent and doesn’t even have to shill the meme coin since the media will be doing the job for him. Dogecoin co-founder Billy Markus replied to the post, saying that was why he is most excited about a potential Trump victory.
DOGE is The Most “Strategically Positioned” Crypto
In an X post, Crypto analyst Master Kenobi said that he believes Dogecoin is the most strategically positioned crypto asset. He mentioned Elon Musk’s D.O.G.E proposal and alluded to its impact on the meme coin. He remarked that the department could indirectly impact the meme coin, which the analyst claimed would be “super interesting and super funny.”
Master Kenobi further asserted that he is confident that Elon Musk will make other bold moves regarding how he shills Dogecoin in this bull market. The analyst envisages a scenario where Musk puts a DOGE sticker on SpaceX and sends the meme coin literally to the moon.
Meanwhile, crypto analyst Kevin Capital revealed a bullish pattern forming on DOGE’s chart ahead of the US election. The analyst noted that the daily and weekly golden cross is pending for the meme coin right before a potential Trump victory and implementation of the D.O.G.E. department.
In the meantime, these bullish patterns forming for DOGE and the price rally ahead of the US elections show that traders are betting massively on the meme coin being one of, if not the biggest, gainers from a Donald Trump victory.
The latest Polymarket data shows that Trump’s odds of winning have surged just before tomorrow’s elections. The former US president has a 57.7% chance of becoming the next president. Meanwhile, Kamala Harris’ odds are at 42.3%.
Boluwatife Adeyemi
Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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