Elon Musk has garnered significant popularity in the ongoing US elections. Musk has been noted for promoting former US president Donald Trump and propagating the narrative that Trump’s win is critical for US democracy and the nation’s integrity on a global level.
At the same time, Trump has also shown his adoration for Musk by promising him a cabinet role, adding that the former president would not mind and would deliver Musk a cabinet role if he won the US elections. If this happens, the development could be a game changer for US politics and crypto.
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Can Musk’s Political Stint Impact DOGE?
Elon Musk is known for many things, but most importantly, the Tesla chief is known to be an avid proponent of Bitcoin. Dogecoin has often seen incredible price pumps due to Musk’s impromptu mentions of DOGE on several occasions.
In one of his earlier interviews, Musk shared how Tesla may soon welcome DOGE payments, adding more momentum to the crypto in general.
Elon Musk just said live that @Tesla will at some point enable $DOGE payments 👀 pic.twitter.com/uk9Ji7pGHy
— MartyParty (@martypartymusic) March 14, 2024
However, Musk’s adoration for the token does not end there. The Tesla chief had earlier mentioned that his role would be headlined as the Department of Government Efficiency, or DOGE. This development has sparked speculations on whether the token will play an elemental role if he ever assumes a cabinet role.
Musk’s cabinet stint has lately taken social media by storm, with Trump promising him a leading political role that involves strict budgeting and planning.
“You think we can rip off this wasted $6.5 trillion Biden budget? Well, I think we can do at least $2 trillion. Yeah, yes, two trillion. At the end of the day, you’re being taxed; you’re being taxed—all government spending is taxation.”
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ChatGPT Predicts Dogecoin’s Price If Elon Musk Assumes A Cabinet Role
ChatGPT, the noteworthy AI, has predicted Dogecoin’s price path and pedestal in this wake. The AI predicted that DOGE may breach markers if Musk takes on a cabinet role. Firstly, DOGE may hit the $0.50 to $0.70 range based on instant hype and FOMO.
If Musk manages to tweak crypto policies, DOGE could easily trade beyond the $1 price range. Broader market conditions may also greatly impact Dogcoin’s price in the near future.
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