Dogecoin surges 8% ahead of US elections 📈

Dogecoin, the most famous so-called memecoin, related to Elon Musk (and Donald Trump) gains today more than 8% ahead of US presidential election results. Speculators expect that Trump win may support sentiments across so-called altcoins' industry (and also memecoins) as well as Bitcoin.

On the other hand, Kamala Harris win would probably pressure Dogecoin price. DOGE risen almost 25% during recent 7 days vs 12% increase in Bitcoin price. From the last month, price increased by more than 50%.
Dogecoin investors hope that Elon Musk will rule US DOGE Department (Department of Government Efficiency), where Musk may be the head in the case of Donald Trump’s victory.
In October Musk tweeted that 'D.O.G.E will fix it' which pumped the Dogecoin price, on a wave of rising speculation among US elections as well as potential Musk's new role in the US government.
Despite Bitcoin fall from $73,5k to almost $68k, Dogecoin didn't stop and is now traded near recent local highs. Rising above 0.169-0.17 USD resistance zone may fuel growth to 0.185 USD where we can see 23.6 retracement of the recent downward impulse.

Source: xStation5

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