Topic: Dogecoin Possibly the Official US Crypto? (Read 123 times)

Well I do think the official crypto for all the countries will be Bitcoin. But there is alot of interest in Doge with the new President Donald Trump 'Department of Government Efficiency'.

It is good if you do hodl this meme coin. I do think we will see big gains and it is Elon Musk's favorite token. https://www.forbes.com/sites/digital-assets/2024/11/19/who-let-the-doge-out-why-is-a-dogecoin-at-a-55-billion-market-cap/

^Exactly this!

Elon has absolutely no authority or power to make any kind of decisions in the government. He is a mere advisor and should be seen as such.

The current Dogecoin pump is so speculative, it could crash hard at any moment. Dogecoin does not even have half the market cap of Solana, despite being much longer time an altcoin.

Memecoins < functional and useful blockchains.

I don't think that dogecoin will become the new american crypto. It will grow more for sure, but not become officially the coin of America. Elon Musk has influence but not that much influence.

aside from being labeled as meme coin which in some people's mind also equates to shit coin, doge honestly among the one that is the most decentralized in term of holder, I guess this proposal does make sense if,a big if they really want to propose it aside recognizing BTC.

instead of proposing other crypto full of insider, whale and VC investment, it just a significantly better choice if elon really want to do that.

considering that elon just keep reusing the name of doge so much these days, it won't be a stretch to say that elon might really just do that at some point.

yes, of course I agree with you and it is very clear that bitcoin is an important crypto market player, and no one can compete with it even though there are many coins like Doge which are supported by Trump and Elon, of course it is not comparable to bitcoin which is stronger in the crypto market with real benefits, Doge is just a meme that has price fluctuations and that needs to be considered.

When Trump used bitcoin during his campaign, why wasn't it doge he used? I feel that it is still that Elon's influence on doge last bull run that is making pump after trump's victory.
We shouldn't consider it US coin, if you do, what do, how do we consider X coin, because it also pumped.

No matter what Trump and Elon does on DOGE, it will not still change it from being a shitcoin, and in the long run those investors that invested in Doge because of Elon and Trump hype on Doge will be disappointed and regret that they didn't choose bitcoin. No matter how expensive bitcoin is, it remains the king of crypto and nothing can change it because it solves problems that all the altcoins and meme coins joined together cannot solve.

LOL, Bitcoin doesn't either . 500k transactions per day? That's diddly squat.

No blockchain-based digital currency can handle anything close to mainstream volume. If that was what people cared about right now, the most valuable coin the world would be Legiteum.

(I certainly hope you are right sometime in the future though  ).

Really Dogecoin is just master of SHITcoins in the world. It is based on scrypt algo. Copy of Litecoin. Coin for fun whose price is vastly influenced by big guys such as Musk and Trump and they are the one who can make money on it. Not you. I suggest all my followers to stay away from Dogecoin.- it is seasonal and extremely volatile coin and most likely you are going collectively fund big guys sell on TOP buy Bottom schema..
Official coin it will not be. It does not have technology to process enough transactions.

No way Trump would make DOGE the official US coin since he has his own coin.

I predicted months ago that Trump would pump his own coin if he won, and I stand by that prediction.

He's already talking about giving legal advantages to "coins made in the USA". In other words, 99% of today's major blockchains will be toast under Trump--but I bet his coin will somehow be "100% made in the USA" and given special status by Congress.

My point was not that Dogecoin will or won't become the official crypto of the US. It was just that by Elon or Trump suggesting that it might would cause the value to increase substantially. Foreign investor would jump on it and If Trump or Elon used some shell corporations to buy up Dogecoin for themselves in the background they would stand to make millions by just the suggestion alone. And although it's technically manipulation of the asset, since it's not technically a stock or security the SEC couldn't do much about it. Even if they were to try  Trump has Gates in charge of the justice department so nothing would happen anyway. You have to kind of think like a criminal here and not rationally. People trying to manipulate the markets don't think like normal investors is my point.

Whether or not dogecoin becomes America's official crypto is for their lawmakers to figure out if it can better their large economy, but I seriously doubt it can happen. What I'm concerned is where dogecoin is realistic, and that is in the hands of it's investors, they are the ones that the price will directly impact, whether it's profit or lose. As it is obvious that Elon Musk, is bullish on dogecoin, and after the election, it's rallying, that is the good news for doge, holders. What I'm quite sure now is that the naretive of cryptocurrency is about to change in America, when Trump, comes onboard again, because we have seen his interests in Bitcoin. We don't have to speculate for too long, soon we will see how Bitcoin and dogecoin will fare in the next Trump, administration.

Did you see or heard Trump mentioning about Dogecoin coin? provably no right? So this assumption that making it as official crypto has no sense at all. Maybe Elon Musk play huge rule for the victory of Trump but for sure their focus is with bitcoin since this is the top coin in the market. Also this is what people want so for sure that they won't shift their attention to other coin since provably they might get a huge backlash for that matter.

Elon Musk will just continue his business with this coin and people already know his intention. Also instead of getting hype with the development happen you also need to be more careful since Musk is known manipulator so don't let yourself being left behind like what he just did to other people who get hype with Dogecoin before.

Not a chance of course. Obviously Elon likes it, there is no doubt about that but last time he liked it, SEC was involved because he was promoting something financial and that meant that it could make people money but also people could lose money from it as well.

The best case in these situations is staying silent and not talking about it. Now that his friend won the presidential race, maybe he would be able to promote it easier, not entirely sure to be fair but the reality is that best case would be Elon promoting it, nothing else. Whereas, making it a "official us crypto" is not something that will happen, we are just not going to see this growing to that size at all, we are going to keep seeing how DOGE is right now, just hyped and keep being hyped.

A country with an official coin, that's cool. No one would figure that out but you and I can see why since Elon seems to want to pay the US National debt and probably the profit from Doge would be sweet. It's like dumping all his doge to its users worldwide would be enough. But why not?

Both came up with the DOGE department, I'm sure they have the aim not just to make the government efficient. What do they know that we don't?
Or did they figure Putin owns the 1M BTC of Satoshi and they want to abandon BTC?

I don't see this happening! Elon is bullish on DOGE, is no secret. He can also authorize his companies to accept DOGE payments. But the US government is structured in a way where Elon can only propose certain changes. Any proposal needs to go through a chain of approval before it becomes official. So I don't see DOGE being approved as an official cryptocurrency in US, ever. Period.

Elon is smart so he will use his influence to play with the DOGE price, which will make him richer. But when it comes to a country, Elon has a very limited influence. We will see as the time goes by. But I am sur ethe DOGE has no chance in becoming an official crypto for a nation like US. This is a height of speculation.

The bigger question is, what is Elon Musk's involvement with doge-coins how have his holdings been going, and what is the possible tendency of him to go ahead into other cryptocurrency projects since the meme coin market is such at its young stage and a lot have to be achieved from it, this is a good way for him to have full control, so if Elon musk has no direct involvement with doge-coins project this project may not receive such support from the Trump administration.

Let us all wait to see how things are involved in the coming days and weeks ahead as the handover takes place, but I doubt if this current administration will have effects on the general cryptocurrency industry. The good thing is that Trump has a positive mindset towards crypto projects and that alone is a mainstream adoption.

Thinking about the recent Trump presidential win and possible changes coming next year I noticed a few coincidences that I can't overlook.
Elon Musk and Trump have been joined at the hip since his win this month. Trump has placed a loyalist in charge of the Justice Dept that would give him almost a license to steal with Matt Gates. Knowing that Trump only has 4 more years at this point and is always looking to make a quick buck, I think him and Elon have something cooking that all of us can make a dollar on. Or not. You decide for yourself.

Elon has always been a fan of Dogecoin. Hell, even the new department he is in charge of is called Department of Government Efficiency - DOGE
Elon's two companies TESLA and SpaceX already accept Dogecoin. In fact, SpaceX has accepted Dogecoin (DOGE) as payment for the rescheduling of the much-anticipated DOGE-1 Mission to the Moon.

What's to keep Elon or Trump from proposing that Dogecoin would be the official Crypto of the United States. Even if it couldn't get through congress or even happen for that matter just the fact that Trump and Elon are supporting it would cause the price of Dogecoin to go through the roof essentially replacing Bitcoin as the top crypto. Since Bitcoin is already so expensive Trump and Elon can't make a fortune on it but Dogecoin presents the possibility for them to make Billions at the current price. And it's Cheap enough at .37 cents a coin that almost all Americans can get on board with it. Hell, just the rumor would cause other countries and markets to get in on it as well boosting the value and Making Elon and Trump billionaires. And with Elon's competitive personality you know he wants to surpass Bezos as the richest man in the world.

Am I completely off base here or does anyone else see patterns here in the small details?