Perhaps this action has something to do with Elon Musk's recent public appearance in Pennsylvania. The Tesla CEO was asked if he could lead a new department (called the Department of Government Efficiency) if Donald Trump takes office. He replied, Yes, DOGE, to applause from the crowd.
This isn't the first time a powerful coin #meme has traveled north after speaking to one of the richest men on the planet. In March of this year, Musk said #Tesla may allow #DOGE payments at some point.
This led to a doubling of the token's price.
Two months later, electric car giant Tesla officially integrated DOGE as a payment option on its website. This move led to another significant (but short-lived) increase in the price of DOGE.
the past few years, Musk has openly supported Dogecoin, repeatedly extolling its benefits. At one point, he even called himself the dog father.
The recent revival of meme coins has attracted the attention of many analysts. For example, user X Dylan said that DOGE may be followed by a massive revival of other altcoins.
Earlier this week, Ali Martinez also made a rather ridiculous prediction. He presented a graph showing that in the coming months, DOGE could soar to an all-time high of 10 dollars.
It is important to note that for this to happen, the market value must jump to about 1.4 trillion dollars. Currently, only #bitcoin (BTC) is approaching this goal, and the total market capitalization of the cryptocurrency sector is about 2.44 trillion U. S. dollars (according to CoinGecko).
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