ChainCatcher message, driven by Musk's continued endorsement and the anticipation of the first DOGE ETP product launch, Dogecoin's market capitalization reached 57.8 billion USD, surpassing the market value of automotive manufacturer Porsche at 56.1 billion USD. Musk's recent involvement in the creation of the Department of Government Efficiency (DOGE), aimed at cutting government spending and streamlining regulation, further sparked interest in Dogecoin.