Trump And Dogecoin, A Victory That Electrifies Crypto

The Dogecoin (DOGE) has just passed a new symbolic milestone by reaching $0.43 on the main exchange platforms, its highest level in over three years. This spectacular performance takes place in a post-election context marked by Donald Trump’s victory and the renewed optimism of crypto investors.

A meteoric rise driven by the elections

The Dogecoin rally began in the hours following the announcement of the US election results this Tuesday. The memecoin reached a new peak of $0.4398 on Bitget, a performance that marks its highest level since 2021.

The cryptocurrency featuring the Shiba Inu dog shows an impressive weekly increase of 143.2%, far surpassing the 28.2% rise recorded by Bitcoin during the same period.

This surge reflects investors’ enthusiasm regarding the prospects of a Trump administration favorable to cryptocurrencies.

“Dogecoin has recently experienced a strong increase, reflecting the market’s complete digestion of Trump’s victory. One can observe that after the US elections, assets related to Trump have seen substantial rises, notably BTC, DOGE, Tesla stocks, and stocks of Trump Media & Technology Group.”, analyze Gracy Chen, CEO of Bitget.

The Musk effect continues to play a catalytic role as well. The billionaire, nicknamed the “Dogefather”, has rekindled interest in DOGE by mentioning the potential establishment of a “Department of Government Efficiency” (DOGE) under the Trump administration, aimed at significantly reducing the federal budget.

Fundamentals strengthened by institutional interest

This new dynamic is accompanied by a notable change in the Dogecoin ecosystem. Spirit Blockchain Capital, a Canadian company, has announced its intention to follow the Bitcoin accumulation strategy of MicroStrategy by building significant reserves of DOGE.

This institutional approach includes the development of ETPs and payment solutions, marking a significant evolution for the cryptocurrency initially created as a joke.

Dogecoin now occupies the sixth place among cryptocurrencies by market capitalization, surpassing major players like Circle’s USDC and Ripple (XRP). Despite a price still below its all-time high of $0.73 reached in 2021, this renaissance reflects the resilience and growing potential for adoption of the first “memecoin” in history.

The rise of Dogecoin illustrates the profound transformation of the crypto market, where even assets initially considered speculative are gradually finding their place in institutional investment strategies.