The Rise of Dogecoin Supported by Trump’s Victory and Promising Outlook for Digital Currencies:
Dogecoin (DOGE) experienced a significant increase in Monday’s trading, reaching its highest levels in nearly three years.
It stabilized near the $0.30 mark with a daily gain of approximately 20%.
Content
The Rise of Dogecoin Supported by Trump’s Victory and Promising Outlook for Digital Currencies
Dogecoin (DOGE) has seen a notable surge during Monday’s trading,
reaching its highest levels in nearly three years,
stabilizing close to the $0.30 mark with a daily increase of around 20%.
Dogecoin has benefited from developments in the U.S. presidential elections following Donald Trump’s victory,
who is considered one of the prominent supporters of digital currencies.
This victory could open new horizons for the digital currency sector, especially for Dogecoin,
which enjoys backing from billionaire Elon Musk.
Musk is expected to hold a position in the upcoming Trump administration,
enhancing Dogecoin’s future and increasing its appeal in financial markets.
In trading, Dogecoin rose by 19.40% over the past 24 hours, currently trading at $0.2874.
The currency ranked sixth among the largest cryptocurrencies by market value, according to “CoinMarketCap” data.
China’s Trade Surplus Nearing One Trillion Dollars in 2024, Threatening Increased Tensions with the Trump Administration
China’s trade surplus is on track to reach record levels this year,
which may spark trade tensions with the United States under the administration of President-elect Donald Trump.
According to Bloomberg’s calculations, China’s trade surplus could hit one trillion dollars if the current pace continues,
with a surplus of $785 billion in the first ten months of the year,
an increase of approximately 16% compared to the same period last year.
China’s economy increasingly relies on exports to offset weak domestic demand,
particularly amid the real estate sector crisis.
The trade surplus with the United States has grown by 4.4% and with the European Union by 9.6% this year.
This expansion in the trade surplus could escalate trade tensions with the United States,
especially given the new U.S. administration’s inclination towards stricter policies on China.
The Rise of Dogecoin Supported by Trump’s Victory and Promising Outlook for Digital Currencies