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According to the news: Dogecoin UI designer DogeDesigner, who frequently interacts with Musk, posted on the X platform: "Musk's Boring Company accepts Dogecoin payments. You can book a ride and pay with DOGE tokens."
Influenced by this news, DOGE rose by 7.6% in 1 hour and 18.6% in 24 hours! According to reports, Boring Company has launched a service that allows customers to use the cryptocurrency Dogecoin to pay for rides on its Las Vegas transportation system Loop. #Dogecoin狗狗币付款作为方式
Then there was a video of Musk's interview, saying:
“I mainly support Doge because of the memes and dogs. The actual total transaction capacity of Dogecoin is much higher than Bitcoin”
— Elon Musk
Review of Musk's historical responses to DOGE price performance events:
Dogecoin was born on December 6, 2013, and was co-created by software engineers Billy Markus and Jackson Palmer. Its design was inspired by Bitcoin, but its purpose is not to challenge the dominance of Bitcoin, but to provide Internet users with a low-threshold and interesting digital currency.
1. In 2018, Musk first mentioned Dogecoin on Twitter
2. In 2020, Dogecoin was frequently mentioned, including tweets saying "Doge to the moon" and combining Dogecoin with "astronauts" and "rocket" elements
3. In early 2021, Tesla CEO’s tweet “Doge” plus a rocket emoji caused the price of this cryptocurrency to skyrocket
4. In May 2021, (Saturday Night Live) Musk publicly mentioned Dogecoin, calling it a "scam" and expressing some skepticism. Dogecoin's price has fallen sharply
5. 2021: Musk not only drove up the price of Dogecoin through personal tweets, but also further consolidated the status of Dogecoin by announcing that Tesla would accept Dogecoin payments (although this plan was later suspended).
6. In 2022, as Musk progresses towards acquiring Twitter, he may once again use the platform to further promote the use of Dogecoin and even integrate it with Twitter’s payment system.
7. In 23 years, the number of people changing their Twitter profile pictures has increased by 30%, the number of people using Dogecoin to pay for SpaceX has increased by 11%, the number of people using Tesla products has increased by 30%, and the number of people’s currency has increased by 90%.
8. The 24th year is quite special: the price of Dogecoin has risen by 400% since it stood on Trump's side. The main reason is the plan to establish the Department of Government Efficiency (DOGE), which also pushed Dogecoin to a three-year high on November 12 to a certain extent.
What other benefits will doge have in the future?
Musk said a long time ago that X would support Doge payment, but it has not been implemented. With Trump's support this time, it should be implemented. Now in addition to Tesla, his Boring Company has also begun to accept Dogecoin payments. It is not ruled out that Doge will be mentioned again on X in the future!
In addition, on the day when Trump announced that Musk would be in charge of the Department of Government Efficiency, Dogecoin ignored the general pullback in the crypto market and continued to rise, once rising by more than 19%. #Dogecoin即将推出XPayments
After his victory, Trump, who is expected to take office in January next year, saw DOGE’s market value increase by nearly $38 billion. After taking office, Dogecoin DOGE may usher in a series of potential benefits, which mainly stem from the Trump administration’s friendly attitude towards cryptocurrencies and Musk’s close cooperation with Trump.
Another personal opinion: Trump may impose higher tariffs on Chinese electric car manufacturers, which may be a positive for Tesla. The effect may also be indirectly transmitted to Musk-related cryptocurrencies such as Dogecoin.
In addition, Musk's SpaceX business may bring more attention and opportunities to Musk-related cryptocurrencies such as Dogecoin.
Next stop: $0.6?
Next year's doge will last for a whole year. After all, the Department of Government Efficiency (DOGE) will plan to "dramatically streamline" government spending and structure by reducing the size of federal agencies, abolishing redundant regulations, and canceling the work-from-home policy. This topic will continue, unlike the squirrel (Pnut), which has completed its historical mission as a campaign tool. As the only pow meme, it is also unique!
Musk's xpayment has been released, and it may support Dogecoin in the future. In addition, the price of DOGE is currently above its volume-weighted average price (VWAP) of $0.40. If DOGE can close firmly above this key support level under continued market pressure, the possibility of breaking through $0.6 will also increase greatly. $DOGE