Elon Musk gave Dogecoin (DOGE) another shoutout on Joe Rogan yesterday, rocketing the coin’s price.
DOGE is up 9% in the past day, showing how just a mention can initiate a buying spree.
Meanwhile, crypto analysts are also hyped about Pepe Unchained (PEPU) – with one even predicting it could pump after its presale ends.
Musk’s “DOGE” Comment Accidentally Triggers 9% Price Rally
Dogecoin’s latest price spike proves once again that when Elon Musk speaks, the market listens.
Even if he’s not talking about crypto.
The coin is up significantly after Musk’s appearance on The Joe Rogan Experience, where he discussed plans for a “Department of Government Efficiency” – or DOGE for short.
Interestingly, Musk wasn’t even referencing the OG meme coin.
His DOGE proposal, mentioned in connection with Donald Trump’s presidential campaign, is actually about streamlining government operations and potentially saving trillions in tax spending.
However, for crypto traders, the mere mention of those four letters was enough to trigger a wave of buying demand.
This isn’t the first time Musk’s words have moved markets.
The Tesla CEO’s history of crypto influence dates back years, and even this indirect reference has sent Dogecoin’s price rallying.
It remains to be seen whether it’s just a temporary pump – but Musk’s influence on the crypto market is undeniable.
Election Uncertainty Rocks Meme Coins as Bitcoin ETFs See Huge Outflows
Although DOGE is performing well, the broader meme coin market is sending mixed signals.
DOGE and SHIB have posted gains, but other popular coins are struggling for momentum.
PEPE and BRETT are down slightly – while PONKE has taken the biggest hit with a 13% drop.
So, what’s behind this choppy price action?
All eyes are on today’s election, and due to the uncertainty, the total market cap of meme coins has slipped to $58 billion.
Bitcoin’s current struggle under $69,000 isn’t helping either.
When Bitcoin struggles, meme coins tend to follow suit.
The uncertainty is showing up in trading patterns, too.
Spot Bitcoin ETFs just logged their second-largest daily outflow ever, with investors pulling over $541 million yesterday.
That’s a sign that institutional investors are getting nervous.
With Trump and Harris’ battle going down to the wire, many traders are opting to wait and see how things play out before committing more capital to the market.
99Bitcoins Analyst Predicts Pepe Unchained Could 100x as Presale Hits $24.7M Milestone
Market apprehension may have people playing it safe – but that isn’t impacting Pepe Unchained.
The project just hit $24.7 million in raised funds, with investors piling into the presale at $0.01219 per token.
And according to one crypto expert, this could just be the beginning.
Umar Khan, an analyst for 99Bitcoins, dropped a Pepe Unchained review that’s got everyone talking.
Khan points to a perfect storm of catalysts that could send PEPU’s price soaring.
He even claimed that PEPU could 100x once listed on exchanges.
Most of his excitement comes from Pepe Unchained’s market timing.
With Bitcoin recently nearing its all-time high and the election potentially bringing in a pro-crypto administration, Khan believes meme coins could be primed for a huge run.
Pepe Unchained would profit from these conditions.
Khan is also bullish on Pepe Unchained’s Layer-2 technology and the project’s 96% APY staking app.
Investors have already locked up over 1.6 billion tokens in this app.
Add in the planned DEX listing and the launch of developer grants, and you’ve got what Khan believes is major profit potential.
As with all crypto investments, nothing is set in stone.
But given Khan’s bullish outlook on Pepe Unchained’s prospects, some investors are rushing to participate in the presale before the next price increase.
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