Which Musk Company Will Propel Dogecoin’s Future — X, Tesla, SpaceX Or The Boring Company?

Dogecoin DOGE/USD is hovering to new month-to-month highs, with Donald Trump successful the 2024 presidential election and Elon Musk probably enjoying a task within the president-elect’s return to the White House.

A Benzinga ballot asks readers to select which Musk-linked firm may have the largest affect on the meme coin’s future.

What Occurred: Dogecoin, up 12% to $0.1933 during the last 24 hours, is seeing elevated exercise probably associated to the 2024 election and Musk’s mentioning the Division of Authorities Effectivity, or D.O.G.E. for brief, on Joe Rogan‘s podcast.

Dogecoin was one of the most traded cryptocurrencies Tuesday evening and Wednesday morning on Robinhood as traders awaited the 2024 presidential election outcomes, the corporate stated.

Musk is anticipated to hitch the incoming Trump administration. On this function, Musk would search to chop authorities inefficiencies and pointless departments, a task labeled beneath the D.O.G.E.

“Which Elon Musk firm may have the largest affect on Dogecoin’s future?” Benzinga not too long ago requested its readers.

The outcomes had been:

• Twitter/X: 39%
• Tesla Inc TSLA: 30%
• SpaceX: 26%
• The Boring Company: 5%

The ballot discovered social media firm X, previously often called Twitter, to be the winner with 39% of the vote. The firm was purchased by Musk for $44 billion in 2022. The billionaire plans on making X part of his all the pieces app ambitions, which can embody funds.

Dogecoin has spiked a number of instances associated to Musk’s buy of Twitter, altering the emblem from a chicken to the Dogecoin mascot, and information of extra fee licenses secured. Having Dogecoin as considered one of a number of fee choices for X customers may present a lift to the value and use circumstances of the meme cryptocurrency.

Tesla has allowed customers to purchase merchandise with Dogecoin prior to now and could possibly be making it simpler for crypto funds again in the future.

SpaceX and Dogecoin will without end be linked due to the DOGE-1 satellite tv for pc mission to house funded by the cryptocurrency. Musk has additionally agreed with a consumer that Dogecoin could be used as a fee choice for Starlink customers in Brazil to get round frozen financial institution accounts.

The Boring Company has allowed users to pay for rides with Dogecoin and supported the meme cryptocurrency.

Learn Additionally: Dogecoin Jumps On Election Day: Poll Asks If Trump Or Harris Victory Will Spark 2025 Rally

What’s Subsequent: Dogecoin has been extremely risky across the 2024 election and time will inform if the elevated worth and curiosity proceed or the meme cryptocurrency sells off after the week.

Dogecoin has traded between $0.1658 and $0.2133 during the last 24-hours, setting new month-to-month highs late Tuesday evening as Trump was main within the 2024 presidential election.

Over the previous yr, Dogecoin has traded between $0.07028 and $0.2266. The cryptocurrency hit an all-time excessive of $0.7376.

Dogecoin’s all-time excessive and robust 2021 yr was probably helped by Musk’s posts on social media and public feedback, together with an look on “Saturday Night time Stay.”

Musk being buddies with Trump and part of the brand new administration may improve visibility for Dogecoin and any tie-ins with Musk firms may assist the value soar as soon as once more.

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The research was performed by Benzinga from Nov. 4 by way of Nov. 5, 2024, and included the responses of a various inhabitants of adults 18 or older. Opting into the survey was fully voluntary, with no incentives supplied to potential respondents. The research displays outcomes from 97 adults.