Influenced by Musk, Dogecoin soared 18% today, reaching a nearly five-month high.
On Tuesday (October 29), Dogecoin continued its recent upward trend. Data showed that in the past 24 hours, Dogecoin rose by 18%, reaching a high of $0.169.
As of press time, Dogecoin was priced at $0.168, returning to its rebound high at the end of May this year, setting a nearly five-month high.
In March of this year, Dogecoin rose to a high of $0.23, which is about 35% away from its current position.
Yesterday, Musk sent a tweet with two pictures.
One was a photo of him campaigning for Trump, with voters holding "TRUMP" signs in the background; the other was a photo of Musk's image replaced with that of Dogecoin using AI technology.
After Musk released these two pictures, Dogecoin surged. But the impact behind this is not only that. Musk has always been regarded as the spokesperson for Dogecoin, and his relationship with Trump has become closer recently.
This picture may tie Dogecoin to Trump, that is, Dogecoin may have a new investment concept - Trump or the US presidential election, which further strengthens the characteristics of Dogecoin as a MEME coin.
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