Elon Musk Boosts Dogecoin Again

Elon Musk has resumed promoting Dogecoin through his X account.

The community expects these mentions to boost the price of Dogecoin.

Analysts predict a possible price rise in the short term if it stays above $0.10.

Dogecoin (DOGE) has grown significantly thanks to the support of Tesla (TSLA) CEO Elon Musk, whose mentions have caught the interest of investors in the meme cryptocurrency.

Recently, after an apparent pause, Musk has resumed promoting Dogecoin through his X account. On September 7, he posted a message that the community interpreted as an indirect allusion to Dogecoin.

The message read: “Department of Government Efficiency,” abbreviated as “DOGE.” This sparked conversation in the Dogecoin community, raising expectations of a possible price rise.

Adding to this, a user with the pseudonym “Dogedesigner” created a meme based on Musk’s post. The image showed Musk as Rafiki holding Simba in the famous scene from The Lion King, symbolizing Dogecoin with the acronym DOGE.

Musk responded to the meme by suggesting that the image could be the mascot of the alleged government agency mentioned in his post.

Musk also referred to the token again during an interview on the All-In podcast, recalling how he promoted Dogecoin during his appearance on Saturday Night Live in 2021. On that occasion, Musk revealed that he deviated from the script to mention the cryptocurrency.

Over time, Dogecoin has reacted positively to Musk’s mentions, showing remarkable short-term strength. Dogecoin's recent price surges have come as a surprise, as the token had previously seen minimal reactions to mentions of the entrepreneur Dogecoin Prediction

With Musk's promotions resuming, Finbold consulted the artificial intelligence tool ChatGPT-4o to analyze how Dogecoin might perform in the coming days. Day IA