Dogecoin is on the rise again with Elon Musk factor

Dogecoin is on the rise with Elon Musk's tweets and Donald Trump's rising chances. Cryptocurrency gained 25 percent in value in the last week.

Dogecoin (DOGE), the oldest and largest meme coin, gained 25 percent in value in the last week. An important part of the rise in DOGE came today. The cryptocurrency rose more than 12 percent in the last 24 hours, becoming $0.13 for the first time since July 29, 2024. DOGE also recorded the highest rising cryptocurrency today among the top 100 largest cryptocurrencies by market capitalization.

Behind the rise in DOGE, there is another Elon Musk factor. In the rises, it is thought that both Musk's tweets and the rising chances of Donald Trump, of which Musk is the biggest supporter, have an impact.

“D.O.G.E will solve this,” Musk wrote yesterday in response to a report from California authorities that SpaceX has begun to block rocket launches across the state. D.O.G.E, Department of Government Efficiency is used as an abbreviation of Government Efficiency Department in Turkish. It is also known that this abbreviation was specifically chosen to establish a connection with DOGE.