Elon Musk Supports Trump’s Campaign, Driving Up Dogecoin’s Price

According to Decrypt, as the U.S. presidential election approaches, Dogecoin’s price has risen, with Elon Musk supporting Trump’s campaign. According to CoinGecko data, Dogecoin rose 7.3% to $0.157 on Monday.

Meanwhile, Bitcoin’s price fell 0.5% to $67,875, and Ethereum dropped 0.3% to $2,430. Musk has spoken at multiple Trump campaign rallies and supported Dogecoin through tweets.

Musk proposed the establishment of a ‘Department of Government Efficiency’ (D.O.G.E.), claiming it could reduce government spending by at least $2 trillion annually.

Ryze Labs analyst Noah Roy stated that post-election positioning and the Federal Reserve’s easing policies have driven up Dogecoin, reflecting widespread enthusiasm in the digital asset space.

Trump has pledged to make America a cryptocurrency superpower, while Vice President Kamala Harris has called for a regulatory framework. If Trump is re-elected, Dogecoin could become part of the executive branch.

Dogecoin’s price has fluctuated significantly during the critical phase of the 2024 election, and Musk’s comments may influence its price again.

Related: DeSci leader also gets some action, can Pump.science play the biological science meme well?

Original author: Zhouzhou Original translation: Joyce At the Solana Breakpoint Conference of Token 2049, Molecule DAO, a Desci platform of the Solana ecosystem, launched a new meme token issuance platform Pump.Science. Compared with other meme token issuance platforms, the feature of Pump.science is not the token issuance mechanism. Medical researchers can submit drug research proposals on Pump.science, and then use the drugs on worms for testing, and transmit the test results to the front end of the platform. In this process, users can participate in the test process by trading meme coins representing drugs. Introducing meme coins to incentivize drug research Pump.science can be understood as a token-based life extension experiment prediction game. Pump.science will issue meme tokens representing drugs on Pump.fun, and players can trade directly. When the market…