$DOGE
Donald Trump's announcement of appointing Elon Musk to head the 'Government Efficiency Administration' (DOGE) and its impact on Dogecoin's 20% rise shows that any positive news related to this currency can greatly stimulate the market.
Does this mean that Dogecoin will continue to rise?
This may have a positive impact in the short term, but in the long term, there are several factors to consider:
1. Political support and official adoption
• If Trump or his future government continues to indirectly promote Dogecoin, it could increase demand for it.
• However, there is still no official decision that the government will use Dogecoin practically.
2. Elon Musk's influence
• Historically, any support from Elon Musk has had a direct impact on Dogecoin's price, as happened in 2021 when he tweeted about it.
• If Musk continues to promote it in some way, it may help maintain the price rise.
3. General market movement
• If the cryptocurrency market as a whole is bullish, Dogecoin will also benefit.
• But if the market enters a bearish phase, Dogecoin may struggle to maintain its gains.
Conclusion:
• In the short term, the currency may see further increases due to positive news and media interaction