Is DOGE Ready for a New Bull Run?

TL;DR

• Large investors have accumulated over 1.8 billion DOGE in the last 36 hours, reducing the circulating supply, which could potentially have a positive impact on the price.
• Trump’s pro-crypto stance and Musk’s role in the DOGE department could increase the popularity and value of the meme coin even more in the near future.

A big DOGE movement coming?

The last few days have been more than eventful for the cryptocurrency market, which has experienced more and more turbulence. The price of Bitcoin (BTC), for example, soared above $106,000 on January 19. Shortly after, it fell below $100,000, only to explode to a new all-time high of nearly $110,000 just a few minutes ago.

Increased volatility, likely caused by Donald Trump’s the upcoming inauguration today also affected Dogecoin (DOGE). The largest coin in the world terms of the market cap has hovered between $0.34 and $0.43 over the past three days, currently worth around $0.38 (according to CoinGecko data).

A important signal that DOGE could be preparing for a substantial rally in the near term is the activity of whales. Ali Martinez, X user revealed that these large investors had accumulated 1.83 billion tokens in the last 36 hours (or more than $700 million at current rates).

Development reduces the circulating supply of the asset, potentially causing prices to increase (assuming demand stays the same or heads north). It can also encourage smaller players to enter the ecosystem, thereby triggering additional capital flow.

The possible Trump/Musk effect?

Another major factor signaling good days ahead for DOGE bulls is Donald. Trump’s incoming reign as America 47th president. During his presidential campaign, the Republican presented himself as the right choice for pro-crypto voters and do multiple promises that could help the industry thrive in the near future.

In addition, recent reports have noted this Trump “plans to issue an executive order making crypto a policy priority and giving industry insiders a voice within his administration.»

Elon that of musk involvement in politics should also be mentioned. Tesla the boss was part of Trump’s internal cycle for the past several months and I will even spearhead an upcoming division called the Department of Government Efficiency (DOGE).

THE the entity the main objective will be to reduce bureaucracy, get rid of unnecessary regulations and eliminate wasteful spending in the U.S. government. DOGE supporters, however, have noticed the obvious match between the abbreviation of their favorite cryptocurrency and the agency, predicting that it could have a positive impact on the meme coin.

After all, Musk is a strong advocate of Dogecoin, often praising its merits and endorsing it. on X. We still have to see if he will announce big news for the DOGE community as head of the department.