Dogecoin Surges Again: The Elon Musk and Donald Trump Factor
Dogecoin (DOGE), the original and largest meme cryptocurrency, has surged by 25% in the past week, thanks to a mix of Elon Musk’s influence and Donald Trump’s increasing political momentum. A significant portion of this rise came today, with DOGE jumping over 12% in the last 24 hours, reaching $0.13 for the first time since July 29, 2024. Among the top 100 cryptocurrencies by market cap, Dogecoin led the pack with the strongest performance today.
Driving DOGE's upward momentum is none other than Elon Musk. His tweets, paired with Donald Trump's growing chances in the political arena (with Musk being one of his most vocal supporters), are seen as key contributors to the meme coin’s rally.
Just yesterday, Musk tweeted, “D.O.G.E will solve this” in response to a report about SpaceX blocking rocket launches across California. While D.O.G.E stands for Department of Government Efficiency, many believe Musk deliberately used the acronym to hint at Dogecoin. The playful connection between D.O.G.E and DOGE seems to have ignited further enthusiasm among investors and the crypto community.
Disclaimer: This includes third-party opinions and does not constitute financial advice. May include sponsored content. Please see our T&Cs for further details.
#ElonMuskmakeatweettosupportPEPEReach #MemeCoinTrending #USStockEarningsSeason #GrayscaleConsiders35Cryptos
