$DOGE
⚡️ Dogecoin surges, market value surpasses Porsche, Musk boosts the crypto frenzy!
Dogecoin's market value soars, exceeding Porsche
• New market high: According to Cointelegraph's report on November 27, Dogecoin (DOGE) has reached a market value of $57.8 billion, successfully surpassing the $56.1 billion market value of the car manufacturer Porsche.
• Driving factors: The growth of DOGE's market value is primarily driven by two factors.
First is Tesla CEO Musk's continued endorsement, as he has not only mentioned Dogecoin multiple times on social media but also participated in the creation of an organization called the Department of Government Efficiency (DOGE), further igniting retail interest in Dogecoin.
Second is the upcoming launch of the first Dogecoin ETP (Exchange-Traded Product) in the market, announced by Valour, a subsidiary of DeFi Technologies.
• Market performance: Dogecoin has performed remarkably in the past year, rising over 395%. In the past month alone, its increase has exceeded 175%.
• Market response: Johanna Belitz, head of Valour for the Nordic region, stated that the decision to launch the Dogecoin ETP was based on the results of the U.S. elections and the surge in Dogecoin demand driven by the Musk effect.
This move will undoubtedly further boost Dogecoin's market performance and visibility.
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