Donald Trump Appoints Elon Musk To D.O.G.E Office; Can Dogecoin and Lunex Network Rise To $1?

Dogecoin (DOGE) is in the news again after skyrocketing to $0.42. This news has created a buzz around the meme coin.

The self-acclaimed DOGE-Father, Elon Musk, has been appointed to the D.O.G.E Office by President-elect Donald Trump.

This price movement and government agency have increased analysts’ expectations for a potential breakout to $1. Lunex Network (LNEX) is another altcoin that analysts expect to clear this price level in the coming months.

Dogecoin (DOGE) Father Gets Government Appointment

$DOGE took the market by surprise recently. Its price pumped from a weekly low of $0.1868 to a peak of $0.4237, per CoinMarketCap’s data. The Dogecoin crypto even flipped Ripple and USDC in the process.

While the value of DOGE has dropped since then due to profit taking by sellers, analysts believe another leg up is coming. One such analyst is Altcoin Sherpa.

He discussed Elon Musk’s recent hire by Donald Trump to spearhead D.O.G.E (Department of Government Efficiency). According to Sherpa, the new government agency is bullish news for the Dogecoin token.

The D.O.G.E. agency has been tasked with a mandate to “dismantle government bureaucracy, cut excessive regulations, and reconfigure federal agencies.” According to Trump, the DOGE initiative will be a major part of the “Save America” agenda. Elon Musk affirms this, saying that it will “send shockwaves through the system.”

Another expert, Ali Martinez told his followers DOGE has formed a bullish flag on the shorter timeframe. Martinez forecast the Dogecoin price could increase by 45% to $0.56. However, he said the memecoin must stay above the $0.35 support.

Looking ahead, analysts like Dogecoin Rise, CRYPTO SHERIFF, and Ether Wizz believe the much-anticipated $1 is still possible. Martinez said the recent downtrend is part of the journey and advised investors to stay put as a rally could start in the coming weeks.

Lunex Network (LNEX) Targets $1 As Presale Interest Rises

Lunex Network (LNEX) is attracting a lot of limelight in the DeFi market as it moves through its presale phase. Selling at $0.0021 per $LNEX token, the presale has garnered well over $2M and could achieve $3M soon. Analysts’ projections add to the excitement about Lunex: $LNEX may grow to $1, which will be interesting for early investors.

Another advantage of Lunex is decentralization, which gives the opportunity to trade over 50,000 assets in different blockchains at once. This multi-chain model gives traders the opportunity to hold multiple coins without having to switch between exchanges. In enabling cross-chain interactions, Lunex offers an integrated solution that saves time and adds value in the eyes of the end user.

Apart from its cross-chain functionality, Lunex comprises a B2B payment gateway through which businesses can integrate and accept cryptocurrency payments and then convert them to fiat at a go.

This feature is right for firms who want to get into crypto but do not wish to deal directly with the fluctuations in the market or the direct management of the crypto assets. As a crypto-fiat gateway, Lunex presents new opportunities for companies willing to advance their payment solutions.

Lunex Network has positioned itself as an innovative DeFi project thanks to its cross-chain capabilities and B2B gateway.

In Summary

The best altcoins to watch right now are Dogecoin (DOGE) and Lunex Network. Analysts forecast their prices could reach $1 in the coming months. Although Lunex is a new leaf, analysts say its innovative use case and utility make it a top contender for the $1 mark.

You can find more information about Lunex Network (LNEX) here:

Website: Lunex Network
Telegram: Join Lunex’s Growing Community

This is a sponsored article. Opinions expressed are solely those of the sponsor and readers should conduct their own due diligence before taking any action based on information presented in this article