Elon Musk Promotes Dogecoin At Trump Pennsylvania Conference: DOGE Price Pumps
The Dogefather Elon Musk spoke about Dogecoin at a Pennsylvania Trump rally. Could Elon Musk’s DOGE price pump happen again?
The revival in the crypto market is refreshing. It comes after the battering in the better part of Q3 2024.
Admittedly, traders want more, and as they search for the next big thing, meme coins seem to be their favorite projects.
Quality meme coins like Pepe and PEPU might be in the offing, but eyes are now on Dogecoin .
Dogecoin Price Is Bouncing From Bottom Support
Dogecoin is the OG meme coin. It was the first, and by virtue of taking advantage of their longevity, the project is the most valuable.
As of October 18, Dogecoin had a market cap of over $19.7 billion and was a top-10 project.
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Some investors argue that Dogecoin exists for entertainment. Nonetheless, it is more valuable than Tron–which powers USDT transfers, or Cardano, whose team is building a “serious” smart contracts platform that could be technically superior to Ethereum.
After the battering of April through to September, Dogecoin is finding support.
Yesterday, DOGE prices exceeded September highs, racing to $0.13 at press time.
From a Town Hall in Pennsylvania: Elon Musk Has a “DOGE” Plan
It all had to do with Elon Musk, who publicly endorsed the meme coin at one point.
In a town hall event in Pennsylvania, Tesla’s founder detailed his Department of Government Efficiency (DOGE) program.
If Trump wins, Musk will reportedly head this program, which seeks to improve government efficiency on spending.
Following this, DOGE prices ripped higher, stretching gains versus BTC and ETH, both of which remain below crucial resistances.
( DOGEUSDT )
At spot rates, DOGE is up 10% in 24 hours and an impressive 25% over the past week.
With rising prices, speculators poured into DOGE futures by looking at Coinglass data .
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Dogecoin open interest—which aggregates the number of all open leveraged positions across top exchanges like Binance, Bybit, and OKX—is rising.
By October 15, it was around $602 million but is now over $944 million, pointing to massive trader interest—a net positive for DOGE.
Pepe Unchained Raises $20.4 Million: Will PEPU 10X?
Whether DOGE will continue printing higher highs remains to be seen. If the coin edges higher, interest in meme coins will likely increase, benefiting others, mainly Pepe Unchained.
The ongoing Pepe Unchained presale has raised over $20.4 million, drawing the attention of retailers and whales.
In the current presale stage, PEPU, the native token, trades for $0.0106 but will rise in the next 26 hours.
Interest in PEPU is because Pepe Unchained is building a layer-2 dedicated to meme coins.
The layer-2, dubbed “Pepe Chain,” will offer fast speeds, high scalability, and low fees, which is ideal for launching meme coins and token trading.
The Pepe Frens with Benefits developer grant program aims to support developers keen on launching on Pepe Chain.
Recently, the team also added a new section to its homepage. The new section will centralize Pepe Unchained’s mission of creating a vibrant ecosystem for builders and supporters.
Through this portal, users can easily interact with all the platform’s features.
Once it lists, PEPU, some analysts predict, can easily glide 10X, outperforming Dogecoin.
VISIT PEPU HERE
EXPLORE: Why Is Everyone Going Crazy For A Crow With A Knife: Is CAW The Next Billion Dollar Meme Coin?
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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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