Dogecoin surges 150% as Trump returns to White House

MG News | November 12, 2024 at 12:12 PM GMT+05:00

0:00

November 12, 2024 (MLN): The dog-themed memecoin Dogecoin, a digital token promoted by Donald Trump supporter Elon Musk, is up 150% this month so far following Trump's return to the White House that traders bet would be good for the cryptocurrency industry.

The memecoin has jumped about 354% so far in 2024 as the Republican candidate has vowed to put the US at the center of the digital-asset industry, including creating a strategic Bitcoin stockpile.

The token traded near $0.40 as of 12:10pm. It is still down 43% from the peak of $0.74 reached in May 2021 when the billionaire Elon Musk appeared on “Saturday Night Live.”

Similarly, the largest token Bitcoin has soared over 27% this month to a record $89,800.

The cryptocurrency has soared about 112% so far in 2024. That is more than returns from investments such as stocks and gold.

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