Donald Trump's re-election and the appointment of Elon Musk as the head of the newly established 'Department of Government Efficiency' have significantly influenced the Dogecoin (DOGE) price.
Elon Musk's Appointment and Its Impact on Dogecoin
Elon Musk's appointment as the head of the newly created Department of Efficiency in Trump's administration led to a sharp increase in Dogecoin's price. The value of DOGE has risen by 235% in the last 30 days.
Market Situation in South Korea
Demand for Dogecoin has surged notably in South Korea. On local cryptocurrency exchanges such as Upbit and Bithumb, trading in the DOGE/KRW pair is 1.5% higher than Binance's DOGE/USDT.
Expert Analysis and Commentary
According to 10x Research analysts, Dogecoin has topped the charts in trading volumes on Upbit and Bithumb following Trump's victory. The 24-hour trading volume for DOGE pairs reached $8 billion.
Elon Musk's appointment and Trump's victory have spurred increased interest in Dogecoin, particularly in South Korea, where trading volumes have reached record levels.
