Featured image from X, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Leading figures in the crypto sector have highlighted Dogecoin as the potential top beneficiary of a victory by Donald Trump in upcoming US elections. Andrew Kang, founder and CEO of Mechanism Capital, took to X to express his insights on the matter. \u201cOne of the most interesting ways to express a \u2018Trump Victory\u2019 trade would probably be owning DOGE (and other memes),\u201d Kang wrote. \u201cNot only do you have high odds of a Doge ETF but the Department of Government Efficiency (DOGE) would be making headlines every week and be pushed forward by Trump,\u201d he added. Well-known Dogecoin advocate Elon Musk has been proposed by US presidential nominee Donald Trump to lead a Department of Government Efficiency if Trump wins a second term. This commission aims to conduct a comprehensive audit of federal finances and performance, and could be in the spotlight for many months in case of a Trump victory. Related Reading: Dogecoin Buy Signal Hints At Upside As Funding Rate Keeps Rising Imran Lakha, a seasoned professional options trader with two decades of experience, echoed Kang’s sentiments. \u201cWe mentioned this in last week’s podcast with Raoul Pal,\u201d he commented, pointing to a deeper discussion on the topic. Why Dogecoin Could Be The Top ‘Trump Victory’ Trade Raoul Pal, co-founder of Real Vision Group and Global Macro Investor (GMI), and former head of hedge fund sales in equities and equity derivatives at Goldman Sachs, elaborated on the dynamics of memecoins and specifically Dogecoin during the podcast. \u201cThe other thing about memecoins that is really interesting is Bitcoin now there’s such a heavy narrative you go around it. You need to understand the history of money and you know blah blah blah,\u201d Pal remarked. \u201cAnd memecoins are like the meme number that goes up. Right, that’s so much easier and much less inhibiting to a 25-year-old.\u201d Pal emphasized the appeal of memecoins to younger investors, attributing it to the straightforward allure of potential gains. \u201cThere’s a trend, so now you’re just capturing an attention trend,\u201d he explained. \u201cLook, don’t judge them with your kind of financial market wealth. They’re all going to get blown up; they know what they’re doing\u2014which is attention is fleeting gambling\u2014and I’m going to gamble how long that attention goes on for and how valuable it becomes, knowing that it’s not going to be persistent.\u201d Related Reading: Active Dogecoin Addresses Reach Highest Level In 8 Months \u2013 Is DOGE About To Rally? He also highlighted Dogecoin’s historical performance and chart patterns. \u201cIn the previous cycle, Dogecoin went to $100 billion. So there’s a lot of upside on most of them. People don’t understand that the DOGE chart is a killer weekly chart,\u201d Pal noted. \u201cIf I just look at the weekly chart of [DOGE], there’s been a massive wedge for a few years, spike, massive wedge, spike, and it’s like this perfect thing. It’s like it’s a thing of beauty, that chart. So I’m long DOGE.\u201d Regarding Elon Musk’s involvement, Pal suggested that the Tesla and SpaceX CEO has intentionally went silent about Dogecoin recently. He speculated that Musk, who has aligned himself with Trump, may be strategically avoiding conflicts with the Biden-Harris administration because \u201cthere’s only a certain number of battles Elon can take at once,\u201d while planning to integrate Dogecoin into X after Trump is elected. He speculated on Musk’s strategic positioning: \u201cI just think he doesn’t want to have that fight, but I still think it’s gonna happen. That’s why he’s chummy with Trump, right? Because if he’s chummy enough with Trump and Trump gets in, then that’ll be an easier fight for him.\u201d Pal suggested that integrating Dogecoin into platforms like X could revolutionize global transactions. \u201cIf you were to use DOGE as the currency\u2014because unlike Facebook Libra, he’s not launching a currency; it exists\u2014and then we could all use DOGE payments on Twitter,\u201d he said. \u201cThe issue is that it’s a big fight with the government when you’ve got a platform of 500 million people and you’re going to introduce a currency onto it.\u201d At press time, DOGE traded at $0.12512. Featured image from X, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":648296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[93212,1785,89174,85675,7,93211,1803,1804,8480,8375],"class_list":["post-648282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-department-of-government-efficiency-doge","tag-doge","tag-doge-news","tag-doge-price","tag-dogecoin","tag-dogecoin-donald-trump","tag-dogecoin-news","tag-dogecoin-price","tag-donald-trump","tag-elon-musk"],"acf":[],"yoast_head":"\n
Dogecoin Is The Top 'Trump Victory' Trade: Investment Firm CEO<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n