Elon Musk and Vivek Ramaswamy will meet Republicans on December 5 to discuss DOGE reform, Dogecoin up 6% to $0.42.
House Speaker Mike Johnson reported that Elon Musk and Vivek Ramaswamy will meet with members of the Republican minority in the House and Senate the following week.
The Department of Government Efficiency (DOGE) will put up important suggestions to improve the regulations and agencies that are operating within the government. The price of dogecoin, which is currently waiting for a breakout to $1 and greater, may experience a significant increase.
DOGE Lead Elon Musk and Vivek Ramaswamy Capitol Hill Visit
It is expected that Elon Musk and Vivek Ramaswamy will travel to Capitol Hill the following week in order to present the Department of Government Efficiency’s (DOGE) most important reform recommendations.
House Speaker Mike Johnson confirmed this information, stating that Musk and Ramaswamy will meet with members of the Republican House and Senate on December 5. During the elections, the Republican Party was able to secure a majority in both chambers of the United States Congress.
As a result of the cryptocurrency industry’s support for Donald Trump and the candidates, Bitcoin experienced a surge toward $100,000 while the price of Dogecoin reached a three-year high.
According to Trump, the Department of Government Expenditures (DOGE) will make it possible for the administration to deconstruct the bureaucracy of the government, loosen excessive rules, reduce expenditures, restructure federal agencies, and more.
Elon Musk published an article on November 30 discussing the impact that the Biden administration had on the expansion of businesses and the economy. Vivek Ramaswamy and Musk criticized the government for its actions as it “debanked” individuals and businesses against their will.
Executives in the cryptocurrency industry, including David Marcus, who was in charge of Facebook’s Libra project, disclosed the manner in which the government politically executed the Diem stablecoin.
Analysts Predict Dogecoin Rally to $2
At the same time as President-elect Trump and Elon Musk promised a significant governmental shift and policies that are supportive of cryptocurrencies, Dogecoin had a big rally. The price of DOGE has increased by 6% over the course of the last twenty-four hours, and it is currently trading at $0.42.
The low for the past 24 hours is $0.400, while the high for the same period is $0.437. Furthermore, the trading volume has surged by more than 80 percent in the past 24 hours, which indicates that traders are showing a significant amount of interest.
As per the data provided by Coinglass, the total open interest in Dogecoin futures increased by 6% in only four hours and by 15% in just 24 hours on the derivatives market. Currently, the value of the open interest in DOGE futures stands at $3.80 billion, suggesting potential for further upward movement.
An analyst from Bluntz Capital forecasted that the price of Dogecoin will increase by 420% to $2.2. He further stated that the arrival of the dollar is imminent, as the DOGE/BTC pair chart is poised for a significant surge.
Rekt Capital, one of the most prominent analysts, observed an ‘ascending triangle’ pattern on the daily chart of the Dogecoin price. Therefore, it is possible that the meme currency will experience yet another round of money flow.
He went on to say that in order to confirm a breakout to $1, DOGE must finish the week at a price higher than $0.43. Particularly noteworthy is the fact that the 4-hour chart of DOGE is already creating a “golden cross,” which has the potential to set off a rally to $2.
