Dogecoin Reaches Three-Year High
Dogecoin (DOGE) hit $0.4398 on Binance, marking a three-year peak with a weekly gain of 143.2%. This rise significantly outpaced Bitcoin's 28.2% gain, largely due to market optimism following Donald Trump's election victory, which has been viewed as pro-crypto. Analysts are now watching to see if DOGE can maintain its upward trend.Elon Musk’s Influence and Institutional Interest
The rally saw renewed attention on DOGE after Elon Musk hinted at taking on a government role titled “Department of Government Efficiency” (D.O.G.E.), causing further excitement. Canada’s Spirit Blockchain Capital, inspired by MicroStrategy's strategy, announced plans to accumulate large reserves of DOGE, aiming to institutionalize its use beyond the “meme” label.Challenges for Sustained Growth
While DOGE’s growth is impressive, the broader altcoin market faces structural challenges in retaining institutional interest post-launch. Experts suggest that protocols focusing on gradual token releases, like Arbitrum, could offer more stable growth models, contrasting with projects like Aptos that saw rapid sell-offs after launch.
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