Elon Musk Announces Major Donation for Crypto-Friendly US President, Dogecoin and Cardano Could Rally Next
The post Elon Musk Announces Major Donation for Crypto-Friendly US President, Dogecoin and Cardano Could Rally Next appeared on BitcoinEthereumNews.com.
DISCLAIMER: This article is a SPONSORED Press Release and does not constitute Finbold’s editorial content. Crypto assets/products involve significant risks. Do not invest unless you are prepared to lose your entire investment. For a full disclaimer, please . The worlds of cryptocurrency and politics collided this week when tech magnate Elon Musk unveiled plans to offer significant support to a U.S. presidential candidate who is favourable towards cryptocurrency. This surprising development has caused waves in both political and crypto circles, potentially influencing the 2024 election and cryptocurrencies, particularly Dogecoin (DOGE) and Cardano (ADA). Elon Musk’s $45M Monthly Super PAC Contributions Elon Musk’s announcement to support presidential candidates through significant monthly contributions to a super PAC has stirred attention. Although the exact figure remains unconfirmed, sources hint at a jaw-dropping estimate of around $45 million per month. If accurate, this generous sum would position Elon Musk as one of the most substantial individual political donors in U.S. history. The donation seems directed towards supporting a candidate with favourable stances on crypto and blockchain, in line with Elon Musk own advocacy for digital assets like Bitcoin and Dogecoin (DOGE). Elon Musk financial endorsement of a pro-crypto candidate suggests his belief that political backing could influence a more lenient regulatory landscape for the industry. Dogecoin Faces Resistance: Can It Break Through $0.128? As word spread about Elon Musk donation intentions, the cryptocurrency market reacted swiftly, especially in relation to Dogecoin (DOGE). The billionaire has always had a soft spot for this meme-inspired cryptocurrency. Following the announcement, Dogecoin (DOGE) prices soared by more than 12% in the weekly chart, with traders excitedly anticipating potential gains for the token. Technical analysis of Dogecoin (DOGE) reveals a resistance hurdle at the $0.128 mark following its initial surge. Despite this, many experts posit that there is potential…
Filed under: News - @ July 20, 2024 12:22 am