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WASHINGTON — President-elect Donald Trump will nominate Wall Street veteran Scott Bessent to be the secretary of the U.S. Department of the Treasury, Trump announced Friday night.

If confirmed by the Senate to be the department’s 79th secretary, Bessent will face a record-high national debt of $36 trillion, and the possibility of more as tax cuts are high on the to-do list for Trump and Republican lawmakers in 2025. He has no previous experience in government.

The position overseeing the nation’s finances was among the last major Cabinet posts Trump had yet to announce, and deliberations for the post were reportedly contentious at times.

Trump said in a statement that Bessent will “help me usher in a new Golden Age for the United States as we fortify our position as the World’s leading Economy, Center of Innovation and Entrepreneurialism, Destination for Capital, while always, and without question, maintaining the U.S. Dollar as the Reserve Currency of the World.”

Dogecoin, the first meme coin, has repeatedly shown its capacity for explosive price movements, often coinciding with spikes in trading volume. 

Historical data reveals that each time Dogecoin (DOGE) sees a price surge, there is an accompanying rise in volume. As a result, understanding the relationship between volume and price could help in projecting what will happen if DOGE achieves a daily volume of $50 billion.

Historical Context Between DOGE’s Volume and Price

Dogecoin reached its all-time high above $0.73 in May 2021, fueled by a surge in daily trading volume, which peaked at about $46 billion, according to market data from CoinMarketCap.

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