Dogecoin$DOGE in the last seven days
There has been a significant increase in its price and it is currently trading at $0.12. Elon Musk’s political rhetoric has brought Dogecoin back into the spotlight. Donald Trump’s plan to appoint Musk as the head of cost reductions if he is elected president has attracted attention. While Musk and Trump’s political engagements have caused movement in the markets, Dogecoin is making a significant rise. Read on to discover the details of these developments.
Elon Musk’s Political Role Drives Dogecoin Price Higher
In recent days, the price of Dogecoin has increased by more than 16% in a week, reaching $0.1242. This increase is directly related to Elon Musk’s political activities supporting former President Donald Trump. Musk’s high-profile posts on the X platform regarding Dogecoin have revived the interest of investors and increased the excitement in the market. Musk’s posts involving Dogecoin have caused a great resonance in the crypto community. These messages, which use the abbreviation DOGE, combine Musk’s technological influence with his political support. Such support is considered to have the potential to increase Dogecoin’s market momentum.
Donald Trump’s Vision: Elon Musk as Financial Manager
Donald Trump announced at his recent rally in Michigan that he intends to appoint Elon Musk as a key figure in his administration if elected president. Musk is expected to use his business skills to drive government efficiency and economic reforms by taking on the role of national cost-cutting officer. The appointment further fuels speculative interest in Musk’s ventures, including Dogecoin. Amidst the political developments, the term “Dogefather” has resurfaced, with Musk’s persona becoming synonymous with Dogecoin. The moniker has a significant place in the crypto world and continues to drive price increases. Dogecoin currently has a market cap of around $18.57 billion, cementing its position as the eighth-largest cryptocurrency.
