As the U.S. election draws closer, the crypto market is seeing significant moves. While Bitcoin (BTC) slipped below $67,000 amid election uncertainty and Mt. Gox wallet activity, Dogecoin (DOGE) surged, becoming the top gainer. Investors view this rise as a sign that DOGE could benefit the most if Donald Trump wins, especially with Elon Musk as a supporter.
Why Did Dogecoin Rise Despite Bitcoin’s Drop?
Despite Trump’s increased odds of winning on Polymarket, Bitcoin didn’t see a boost, wiping out last week’s gains. However, DOGE bucked the trend, climbing by 11.3% in the last 24 hours. Analysts believe Dogecoin is in a prime position to gain from Trump’s potential win, especially with Musk’s endorsement of both Trump and DOGE.
Crypto analyst Satoshi Flipper even predicts that Trump’s victory could trigger a major rally for DOGE, potentially pushing it to $1. Flipper notes that Musk’s support and initiatives involving DOGE could drive this surge.
As of writing, DOGE is trading at $0.167, showing a strong upward trend that has investors excited about what’s next.
For more updates on the crypto market and the U.S. election’s impact on assets like Dogecoin, stay tuned to Turkish NY Radio.
