Dogecoin increased by 6% to reach $0.18 following comments from President Trump about a $2,000 stimulus proposal, which led to increased speculative buying of the asset. The surge in Dogecoin’s value is attributed to the excitement surrounding Trump’s remarks, prompting traders to invest in the cryptocurrency. Additionally, Bitwise’s recent filing for an exchange-traded fund (ETF) has contributed to a sense of institutional legitimacy for the Dogecoin market. This combination of factors has created a favorable environment for Dogecoin, attracting both retail and institutional investors. As the cryptocurrency landscape evolves, Dogecoin continues to draw interest as a speculative asset, particularly during times of market volatility.
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