🌍 The political climate and its impact on the markets
1. President Donald Trump’s inauguration and his support for digital currencies:
• President Donald Trump is expected to take office on January 20, and has previously promised to support cryptocurrencies as part of his economic strategy.
• Going back to when Trump won the election previously, Bitcoin saw a historic spike to $100,000 for the first time.
• Cryptocurrencies are often influenced by political trends and media propaganda, and Trump is expected to focus in his speeches on the goals of supporting digital currencies as part of his economic agenda for the next four years.
• This enthusiasm may push a large number of investors to buy digital currencies, which will greatly boost the demand for DOGE.
2. Elon Musk and his influential role in the Dogecoin market:
• Elon Musk is expected to take up a position at DOGE (Department of Government Efficiency) in January, a figure known for his strong support of Dogecoin.
• Multiple reports indicate that Musk owns about 28% of the total Dogecoin, making him a major investor in the currency.
• With Musk in a government position, it is believed that he will use his influence to promote Dogecoin and attract more investors, which could push the price to new record highs.
• If Dogecoin's price doubles, Musk could become the richest man in history, surpassing Mansa Musa's net worth, with his fortune exceeding $500 billion.
💡 Points to watch:
• Basic support levels:
• Dogecoin is currently holding a strong support level at $0.35.
• If there is an upward breakout of this level, the price may quickly rise towards $0.50 or higher.
• Increasing adoption:
• More and more companies continue to adopt Dogecoin as a payment method, strengthening its position in the cryptocurrency market.
• Expected fluctuations:
• Beware of sharp price fluctuations, as digital markets are known for their rapid and unpredictable movements.
🔮 Future expectations:
• If the current bullish trends continue supported by political developments and increasing adoption, Dogecoin is expected to test the price range between $0.50 and $0.60 during this month.
• However, it is necessary to follow the news and political and economic developments to accurately assess the trend.
📌 One last piece of advice:
• Manage your risks well by setting stop loss orders to protect your capital.
