Musk American Party go Accept Bitcoin, E Spur DOGE Rally
On di 5th July 2024, Elon Musk announce say e form America Party and e register am with di Federal Election Commission make e fit accept Bitcoin donations under FEC rules, wey make dem convert di money to US dollars inside ten days. Di party never get e own token yet, but traders and investors dey expect say Dogecoin (DOGE) fit be like symbolic fundraising coin because Elon Musk get history dey push DOGE price rally anytime e public support am. Di announcement come with big increase for Solana-based memecoins, where one America Party-themed token come rise pass 150%, reach market cap of $10 million sharp sharp. Dis one na di first major US political group wey accept crypto donations since FEC approve crypto funding for 2014. For short term, market fit see plenty speculative trading for Bitcoin, DOGE and other memecoins. For long term, more regulatory watchdog go dey for crypto fundraising as traditional and decentralized political finance join hand.
Bullish
Di news say Musk American Party go accept Bitcoin and fit use Dogecoin as fundraising tool na good sign for DOGE and memecoins. For history, Musk endorsement dey make DOGE price rise quick quick, and this political backing show say e go dey more accepted for mainstream. Short term, people go dey do more speculative trading for DOGE and related memecoins. Long term, even though regulator go dey watch well well, validation from high-profile political project fit keep positive feeling and market demand alive.