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Unlikely. Electric dryers generally require 240V/30A circuits, to get enough power for drying. That requires #10 wire (in copper). On the other hand, 120V circuits are very rare above 20A. So the wire you have is most likely #12 (in copper), unsuitable for a 30A circuit. In addition, the existing 120V/20A circuit is likely only two wires (hot/neutral) plus ...

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