Dogecoin’s recent gains among the top 40 cryptocurrencies have been particularly impressive, thanks in large part to Elon Musk’s Twitter comments. Musk’s words on social media have significantly increased the attention and price of Dogecoin. He mentioned on Twitter that as California officials restricted his SpaceX company from increasing the number of rocket launches, he suggested that "D.O.G.E." could solve this problem. The "D.O.G.E" here actually refers to a concept of a department that Trump once proposed to improve government efficiency. Trump also said that if elected as president, Musk would be in charge of this department.

Dogecoin reacted positively to Musk's tweet, with the price rising by 6.8% in 24 hours and 17% in a week. The current price of Dogecoin has reached $0.1236. Looking back on Musk’s huge impact on the price of Dogecoin in 2021, if Trump really wins the election, the price of Dogecoin may continue to rise crazily.

Musk and Bitcoin's rally have combined to drive the price of Dogecoin higher. While the price of Dogecoin has been relatively stable before, it is finally starting to pick up, which has investors and holders very excited. Meanwhile, Bitcoin’s recent strong performance has also had a positive impact on Dogecoin. Dogecoin’s current momentum is likely to keep its price stable and may even continue to rise.

Although some predict that the price of Dogecoin may drop at the end of the month, this belief is not universal. Looking at the number of active addresses of Dogecoin has reached a new high this year, this shows that users have very high support for Dogecoin and everyone is actively using Dogecoin. Therefore, based on current market conditions, Dogecoin and other cryptocurrencies are likely to see another round of significant gains.