According to ChainCatcher, the cryptocurrency market has been fueled by speculation over Trump’s appointment of Musk to lead the new Department of Government Efficiency (DOGE). DOGE is an abbreviation Musk created in tribute to Dogecoin.
Futurist and cryptocurrency investor Armando Pantoja said Musk is good at hinting at his love for Dogecoin and predicting that retail investors will return to the market. He believes that assets such as Dogecoin and Shiba Inucoin may drive market trends, and Musk's actions often become market catalysts.
