Cryptocurrency meme Dogecoin DOGE/USD experienced an increase in trading volume and price activity leading to the 2024 presidential election.
A Benzinga poll asks readers to choose whether a Donald Trump or Kamala Harris election victory could have a more positive impact on Dogecoin in 2025.
What happened: Dogecoin is up 12% at $0.1761 on Tuesday, as the meme cryptocurrency sees increased activity likely related to the 2024 election. and positive mentions of the Department of Government Effectiveness, or DOGE for short, by Elon Musk.
Musk is expected to join the Trump administration if the former president wins the 2024 election. In this role, Musk would seek to reduce government inefficiencies and unnecessary departments, a role labeled by DOGE.
The billionaire Tesla CEO mentioned DOGE during his most recent appearance Monday on “The Joe Rogan Experience” podcast, which is likely contributing to Dogecoin’s strong move on Tuesday.
“For the future of Dogecoin in 2025, who would be the better president: Kamala Harris or Donald Trump? » Benzinga asked recently.
The results were as follows:
- Donald Trump: 72%
- Kamala Harris: 28%
The Benzinga poll found that respondents believe Trump would be more supportive of Dogecoin’s future, which is perhaps unsurprising given the former president’s reputation as a more pro-crypto leader.
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What’s next: Trump, who previously spoke out against Bitcoin, has reversed course and won over cryptocurrency investors ahead of the 2024 elections.
If Trump wins the 2024 election, cryptocurrency investors expect the price of Bitcoin BTC/USD and other cryptocurrencies will rise with the establishment of a more crypto-friendly government and the likelihood that the chairman of the SEC Gary Gensler will be replaced.
Although Harris hasn’t been as outspoken on cryptocurrency as Trump, some believe she could seek to move forward the sector will move forward if she wins the elections.
Regardless, Dogecoin could see high volatility during the week as the results of the 2024 elections are expected to take some time to be made official.
With a price of $0.1761 on Tuesday, Dogecoin is closing in on its one-month high of $0.1792.
Over the past 52 weeks, Dogecoin has traded between $0.07028 and $0.2266. Dogecoin reached an all-time high of $0.7376 in May 2021.
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The study was conducted by Benzinga from November 4-5, 2024 and included responses from a diverse population of adults aged 18 or older. Participation in the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 134 adults.
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