DOGE 2X within a month on Trump and Elon Musk Effect
The value of the flagship meme coin has more than doubled, rising 130 percent over the past month
DOGE has risen almost 20% in the past day to reach a price of $0.247, continuing its incredible gains into the weekend. The last time Dogecoin’s price reached this level was in November 2021, when a spike in the cryptocurrency market drove Bitcoin to an all-time high of about $69,000.
The value of the flagship meme coin has more than doubled, rising 130 percent over the past month.
DOGE has increased by over 68% in just the past week as seen on Binance. It still falls far short of its peak of $0.73 in May 2021, though.
Dogecoin’s price has suffered due to market volatility. The meme coin has started to gain traction in the last quarter of the year
Elon Musk, the CEO of SpaceX and Tesla and a self-described Dogecoin enthusiast who has frequently driven the price up with his antics over the years, threw his support behind Donald Trump, joining the now-elect president on the campaign trail, Dogecoin started to rise in recent weeks.
Musk mentioned the possibility of establishing a Department of Government Efficiency (D. O. G. E.). Trump has stated that the world’s richest man could lead the agency. The fervor contributed to Dogecoin’s ascent, securing the coin’s multi-month high price marks.
Now that Trump has won and the cryptocurrency market is booming due to the Republican candidates’ numerous promises, Dogecoin traders are going crazy, and the coin is reaching levels not seen since 2021.
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