Elon Musk Mentions Dogecoin, Leading to 6.8% Price Surge

Dogecoin (DOGE) surged 6.8% to $0.13 after Tesla CEO Elon Musk mentioned it during a town hall meeting in Folsom, Pennsylvania. His playful reference sparked excitement, pushing Dogecoin's market cap to $19.3 billion.

Musk's comment, “Yeah, Doge,” during the event led to a 22.9% rise in DOGE over the past week, making it the best performer among the top cryptocurrencies. This follows Musk’s recent tweet, “D.O.G.E. will fix it,” which fueled further speculation about his support for the meme coin.

Despite Dogecoin being down 80% from its 2021 peak, Musk's influence keeps it relevant and driving market rallies.

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