Dogecoin is expected to rise to $5 as Elon Musk’s D.O.G.E. addresses US inflation and spurs cryptocurrency adoption optimism.
A top analyst predicted Dogecoin would rise to $5 due to rising global interest in digital assets. However, Y Combinator CEO Garry Tan’s comment has fueled speculation. In a recent X post, the CEO said that meme crypto may rise if Elon Musk’s D.O.G.E. fixes US inflation.
Musk’s D.O.G.E. Targets US Inflation, Dogecoin Eyes Rally
Dogecoin has grown significantly in recent days as investors focus on meme coins. Elon Musk’s connection to the leading meme coin has also increased its popularity among traders.
Trump’s Department of Government Efficiency (D.O.G.E.), led by Musk, cuts government spending. D.O.G.E. blamed excessive government spending for inflation. Musk and Vivek Ramaswamy want to implement strong fiscal policies to reduce overspending and inflation.
Dollar-Crypto Relationship
Y Combinator CEO Garry Tan recently linked Dogecoin’s potential rally and D.O.G.E.’s success. In a recent X post, Tan explained how government overspending devalues the dollar and inflates the money supply. If “Elon’s DOGE is successful” in lowering prices, Dogecoin could rise in 2025.
Tan posted an inflation crisis video. Governments printing money cause inflation, according to the video. With the US money supply growing ten times faster than the economy, inflation has risen, eroding Americans’ purchasing power.
Like Trump and the Tesla CEO, Tan advocated for strict spending caps to stop financial dilution.
Musk commented that he agreed with the analysis. Managing inflation may lower the dollar price of cryptocurrencies like Dogecoin. He added that crypto’s value comes from scarcity and utility, not dollar inflation.
DOGE to $5 Soon?
Musk’s inflation announcement has garnered attention from the crypto community. Due to its cultural appeal and growing use as a payment method, analysts expect Dogecoin to rise.
Musk’s influence on Dogecoin is well known, and his association with D.O.G.E. boosts investor confidence. Recent rumors suggest DOGE could be integrated into X payments with other cryptocurrencies.
If Musk’s D.O.G.E. can fix US inflation, crypto enthusiasts think Dogecoin could become a reliable store of value. Market optimism is boosted by a top analyst’s prediction of a Dogecoin rally to $5.
Recent X posts by analyst CryptoELlTES said a major move for the leading dog-themed meme coin is “just getting started.” Additionally, he has set DOGE targets of $0.75, $1.5, and $5. He added, “Even higher targets are on the horizon!”
DOGE’s trading volume rose 26% to $3 billion, and its price rose 1% to $0.3868. Note that the crypto has reached $0.3978 and $0.3826. The meme coin may also rally due to recent DOGE whale transactions.
