Elon Musk is no stranger to the spotlight, and his involvement with Dogecoin (DOGE) keeps making waves. Recently, Musk celebrated a legal victory tied to Dogecoin, sparking excitement in the crypto world. After the court dismissed claims that Musk manipulated the market with his Doge statements, Musk didn’t hold back. He doubled down on his Dogecoin support, fueling investor optimism.
The lawsuit accused Musk and Tesla of misleading investors with statements about Dogecoin, calling it the “future currency of Earth.” The court, however, ruled that these statements were just “puffery,” not hard facts. As soon as the case was thrown out, the market responded, with many wondering if Doge could hit the $0.1 mark.
Doge’s Price on the Rise
Following the legal win, Elon Musk kept promoting Dogecoin, and the price surged almost immediately. Some speculate that Tesla may even bring back Dogecoin payments for their products. Musk hinted at it when he replied to a tweet with just the word “ME.” This simple tweet set off wild speculation, with Doge supporters hoping for even bigger announcements.
Musk’s history with Dogecoin is full of surprises. He has endorsed the meme coin many times, even at a Tesla event in Berlin. Every time he speaks about Dogecoin, the market reacts, and this latest round of endorsements has everyone talking. Investors are now eyeing the $0.1 mark, hoping Musk’s magic touch can get them there.
Department of Government Efficiency pic.twitter.com/HFeHYNIkJN
— Elon Musk (@elonmusk) September 7, 2024
Doge and the Political Scene
Musk isn’t just playing in the crypto world; he’s also stirring things up politically. He recently posted a meme about taking a cabinet role in Donald Trump’s potential administration if Trump wins the 2024 U.S. election. The meme showed Musk in charge of the “Department of Government Efficiency” or DOGE for short, cleverly connecting politics and the cryptocurrency world.
This post came right after Trump’s speech in New York, where he slammed Kamala Harris’s tax policies. Trump hinted at creating a commission to audit government efficiency, and Musk jumped in on the conversation with his meme. While it’s unclear if Musk is serious about a government role, the Doge community enjoyed the political buzz.
Doge Gains in the Market
Musk’s political meme gave Dogecoin another boost. After hitting a low of $0.08947, Dogecoin shot back up, reaching $0.09417. The token’s futures also saw an uptick, with Dogecoin showing a small but noticeable uptrend. This is a reminder that whenever Musk posts about Dogecoin, the market listens.
The connection between Musk and Dogecoin has always been strong, but his latest post tied to Trump’s campaign has pushed that connection even further. Some speculate that if Trump wins the election, Doge could skyrocket, with Musk potentially playing a role in government.
What’s Next for Doge?
The crypto community is buzzing with anticipation. Musk’s continued support for Doge, combined with the lawsuit win and his political involvement, has Doge fans hopeful for another price jump. Whether it’s reaching $0.1 or playing a role in the 2024 election, one thing is clear: Doge is still very much in the game, and Elon Musk is leading the charge.
Investors and fans alike are watching closely to see what comes next. If history is any indication, we haven’t seen the last of Doge’s rise, and Musk’s influence on the meme coin world is far from over.
