Fully supporting Trump is an important step for Musk to realize his political ambitions, as the interests of Trump and Musk are now highly intertwined.

Written by: Jessy, Golden Finance

On October 29, DOGE surged, breaking through $0.16, with a 24-hour increase of 17%.

As the U.S. election approaches, the Trump trade has once again proven effective, and DOGE has successfully captured political traffic, joining the Trump trading bundle.

DOGE's ability to ride the wave of the U.S. election is closely tied to the world's richest man, Musk, who has unreservedly supported Republican candidate Trump with his time, money, and capabilities in this election.

Now, Musk's brand and reputation are highly intertwined with Trump's brand and reputation. Supporting Trump is a crucial step for Musk to achieve his political ambitions. The alignment of interests with Trump will also benefit his business empire after Trump's election. The impressive performance of DOGE is a prelude to this benefit.

DOGE Becomes D.O.G.E

DOGE's highest price was during the last bull market in April 2021, breaking through $0.7.

This was thanks to Musk's tweet on Twitter featuring "Doge Barking at the Moon" along with an image.

Musk has become the most famous supporter of DOGE, frequently mentioning it in his tweets and calling it "the people's crypto," while he himself has become known as the father of Dogecoin. It was Musk's repeated mentions in tweets that allowed DOGE to break into the mainstream, pushing its market cap into the top ten of cryptocurrencies.

In this cycle, Musk has continued to deliberately promote DOGE, with the most recent instance being his proposal to establish a Department of Government Efficiency, abbreviated as D.O.G.E. The name and abbreviation of the department came from suggestions by the DOGE community, which Musk adopted.

The Department of Government Efficiency stems from an initiative he co-launched with Trump, aimed at conducting a comprehensive financial audit of the federal government and proposing measures to reduce waste, fraud, and unnecessary spending.

Trump himself responded positively to Musk's proposal to establish the Department of Government Efficiency, announcing during a speech at the New York Economic Club on September 6 that if elected president, he would work with Musk to create the Department of Government Efficiency.

DOGE then capitalized on the D.O.G.E traffic, with Musk discussing the D.O.G.E plan again during his speech at a Pennsylvania town hall on October 17, causing DOGE to surge by 30%.

The potential of DOGE lies in its strong association with Musk; the billionaire knows how to create buzz, just like this time, where DOGE is riding the election wave. As long as Musk remains active in the spotlight, DOGE will always have hot topics to latch onto.

Tech Accelerationist Musk Supports Trade Protectionist Trump

This time, Trump was able to respond positively to Musk's initiative to establish D.O.G.E because their interests are now highly intertwined.

Since Trump was assassinated in July 2024, Musk has become a regular presence in Trump's campaign activities.

In the U.S. election, the final outcome will actually be determined by the votes of a few swing state voters. In these areas, the support rates of both parties are currently neck and neck.

Pennsylvania, with its 19 electoral votes, has become the most important swing state in this election. According to election analyst Nate Silver, the candidate who wins this state has over a 90% chance of entering the White House.

According to The New York Times, to help Trump secure Pennsylvania, Musk has moved there to oversee Trump's campaign efforts.

Musk has promised to randomly give away $1 million every day to a person who signs an online petition he initiated, supporting free speech and gun rights, before voting day. However, signers must be registered voters in the U.S. and reside in one of the seven swing states: Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania, or Wisconsin.

Additionally, Musk is offering a $100 reward for each Pennsylvania registered voter who signs the petition, and recommending another Pennsylvania registered voter to participate in the signing will also earn $100.

According to data from the nonprofit tracking organization Open Secrets, Musk's political action committee, America PAC, has spent over $119 million in this election cycle supporting Trump. Furthermore, Musk's personal donations have made him one of the largest individual donors in the presidential campaign.

After acquiring Twitter, Musk has turned it into a platform for supporting Trump in public opinion.

Fully supporting Trump is an important step for Musk to realize his political ambitions.

The combination of top billionaires and powerful politicians is not uncommon. This time, Musk and Trump have brought this combination to the forefront. Big capital has always had unparalleled influence in the U.S., typically betting on both sides during elections to ensure their business interests are protected, regardless of who wins. It is very rare in U.S. history for someone like Musk to openly and deeply support a particular candidate.

Musk's heavy bet on Trump is mainly because Musk's political ideology aligns closely with Trump's.

Musk is a believer in tech accelerationism, which posits that all resources available in a capitalist society should be utilized at all costs to move towards a "technological singularity." This technology could be big data, cryptocurrency technology, artificial intelligence, brain-computer interfaces, Mars colonization technology, or biotechnology. Regardless of what it is, pushing for technological innovation at any cost is seen as the only ethically justifiable action. Humanity must accelerate the pace of technological progress and construction to ensure survival and assert its presence in the universe.

Conservatives who believe that various new technologies should be more heavily regulated are naturally labeled negatively by accelerationists as "decelerationists."

In the eyes of tech giants like Musk, the Democratic elite in the U.S. are precisely these "decelerationists." A businessman like Trump, who opposes environmentalism and supports trade protectionism, becomes the target of support for Musk and others.

After Trump takes office, Musk will directly benefit, not only by realizing his political ideals—becoming the head of the Department of Government Efficiency—but also his business empire will directly benefit.

Analysts suggest that after Trump takes office, he may impose higher tariffs on Chinese electric vehicle manufacturers, which could be a good thing for Tesla.

Moreover, the Republican agenda shaped by Trump includes promoting cooperation between the government and Musk's monopolistic commercial space venture, SpaceX.

More importantly, Musk and Trump are of the same ilk; they see each other and form an alliance to maximize their interests. The surge in DOGE is a preemptive realization of these benefits. After Trump's election, there may be more similar moments.

In the future, Musk-related concept coins or stocks will also be highly tied to the "Trump trade."

免责声明：本文章仅代表作者个人观点，不代表本平台的立场和观点。本文章仅供信息分享，不构成对任何人的任何投资建议。用户与作者之间的任何争议，与本平台无关。如网页中刊载的文章或图片涉及侵权，请提供相关的权利证明和身份证明发送邮件到support@aicoin.com，本平台相关工作人员将会进行核查。