DOGE 'Destiny Password': Why did December 5th become a key day for price change? Alarm bells ringing!

After soaring more than 330% in six weeks, DOGE (DOGE) entered a consolidation phase and has been trading sideways for the past three weeks. This remarkable Rebound was initially driven by speculative bets on Donald Trump winning the US presidential election, known as the 'Trump trade.' Following Trump's election, this momentum was sustained by the establishment of the Department of Government Efficiency (DOGE), led by prominent advocate of the DOGE community, Elon Musk.
December 5th may become the major catalyst for DOGE
The cryptocurrency market is now anticipating a crucial week for DOGE, which will revolve around a major event on December 5th in Washington, D.C. On that day, Elon Musk and Vivek Ramaswamy will deliver speeches to members of Congress, presenting an important proposal with the support of the Department of Efficiency in Government. This development could have a significant impact on the price of DOGE.
The Department of Government Efficiency (DOGE for short) has played an important role in shaping the recent price movement of DOGE. Under the leadership of Musk and with the support of Donald Trump, DOGE aims to streamline government spending and improve the operational efficiency of federal agencies. The establishment of this department, coupled with its connections to influential figures like Musk and Trump, has sparked a lot of speculation around DOGE, leading to significant price fluctuations.
Historical data highlights the impact of this department on the valuation of DOGE. The announcement of Musk's appointment as CEO of DOGE caused a 15% pump in the price of DOGE. After gaining support and activities related to the plan, this increase has further increased by 120% within a week. In addition, with the widespread discussion of DOGE on social media and Musk's financial contribution to related political actions, DOGE further pumped 10%.
These PA directly reflect the enhanced speculation of traders and public interest triggered by media reports and Musk's active promotion of the Government Efficiency Department.
The upcoming December 5th event is a crucial moment for Dogecoin. According to CNBC, Mike Johnson, the Speaker of the Louisiana House of Representatives, announced that Musk and Ramaswamy will meet with Republican congressional leaders to discuss major reform ideas aimed at deregulation, administrative cuts, and cost savings. Johnson said, 'Entrepreneurs will discuss major reform ideas aimed at deregulation, administrative cuts, and cost savings with Republican lawmakers.'
Elon Musk and Ramaswamy have ambitious plans for DOGE, including substantial cuts to federal employees, the closure of many federal and regulatory agencies. In a recent column in The Wall Street Journal, they expressed their intention to "cancel unapproved congressional spending" and cut federal funding to entities such as the Public Broadcasting Corporation, several international organizations, and the Planned Parenthood Federation. In addition, Musk also proposed that the White House should "cancel" the Consumer Financial Protection Bureau, an independent agency responsible for overseeing Financial Institution.
However, the implementation of these proposals depends on congressional approval, as the House of Representatives has the power to allocate federal funds to various agencies. The upcoming meeting on December 5th indicates that the Republican leadership is seriously considering Musk and RamaSwamy's proposals.
The impact on the price of DOGE is multifaceted. Government measures and Musk's high-profile support have raised the visibility of DOGE in a wider public arena. As investors closely follow the results of the meeting on December 5, it is expected that volume and speculative trading activities will increase.
As of the time of writing, DOGE trading price is 0.41 USD.#12月份你看好哪些币种？