Elon Musk is currently gaining immense attention because he is ready to assume the role of chief of the Department of Government Efficiency, or DOGE. This department will streamline governmental expenditure units, stopping unnecessary expenses while honoring the element of transparency in all its proceedings. Musk’s political transition will benefit many sectors, including the cryptocurrency domain. His tenure as a doge chief may be lucrative for these three coins.
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Top 3 Cryptocurrency Coins To Surge Rapidly After Musk Takes Office As DOGE Chair
1. Dogecoin (DOGE)
Dogecoin is closely associated with Musk, and it would be unfair to not consider Doge while addressing Elon Musk’s new political role. The Tesla chief’s Department of Government Efficiency is loosely inspired by Dogecoin and has given a significant boost to the token since the moment it was announced as an official governmental unit. With Musk assuming the official role, Dogecoin may rally hard and may even end up hitting the $1 mark and beyond if Musk announces Doge’s association with X as a viable payment method.
Per CoinCodex, Doge may drop 6% to sit at a new price spot of $0.38. But the tables can always turn, provided Musk announces any special statements ushering in bullish price spikes for Doge or the cryptocurrency domain in general.
“According to our current Dogecoin price prediction. The price of Dogecoin is predicted to drop by -6.05% and reach $0.385065 by January 11, 2025. Per our technical indicators, the current sentiment is neutral while the Fear & Greed Index is showing 74 (Greed). Dogecoin recorded 18/30 (60%) green days with 6.29% price volatility over the last 30 days. Based on the Dogecoin forecast, it’s now a good time to buy Dogecoin.”
2. Bitcoin (BTC)
Bitcoin is part of the bigger narrative, which can be fueled by Musk as soon as he takes over his new political stint. As a head of DOGE, his actions could have a ripple effect, bolstering Bitcoin’s stance due to the Tesla chief’s pro-crypto leanings. DOGE dept. is set to play an important role in US governance, as it will be delivering useful advice and guidance to the Trump administration. Since both key US political players are pro-crypto, their official administrative appointment and commencement can usher in a positive BTC cryptocurrency rally.
Per CoinCodex, Bitcoin may surge to hit $115K by the end of December, or early January 2025.
“According to our current Bitcoin price prediction. The price of Bitcoin is predicted to rise by 15.18% and reach $ 115,871 by January 11, 2025. Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 83 (Extreme Greed). Bitcoin recorded 16/30 (53%) green days with 3.82% price volatility over the last 30 days. Based on the Bitcoin forecast, it’s now a good time to buy Bitcoin.”
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3. Ripple (XRP)
Ripple is another mainstream cryptocurrency token that may gain serious attention when Musk takes over the DOGE office. The upcoming year is set to support XRP in all its endeavors as new SEC chair Paul Atkins assumes the role of the US SEC chair. With Musk joining in the parade, the new policy changes that may happen can also bring in a positive crypto market outlook, which, when coupled with the new US SEC chair appointment, could be particularly lucrative for XRP.
Per CoinCodex, XRP may decline to hit $2.09 by the end of December or early January 2025.
“According to our current XRP price prediction, the price of XRP may drop by -14.39% and reach $ 2.09 by January 11, 2025. Per our technical indicators, the current sentiment is Bullish while the Fear & Greed Index is showing 83 (Extreme Greed). XRP recorded 18/30 (60%) green days with 38.37% price volatility over the last 30 days. Based on the XRP forecast, it’s now a good time to buy XRP.”
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