In a surprising boost for the meme-based cryptocurrency DOGE, prices surged by 89% following President-elect Donald Trump’s announcement of a new government body named the “Department of Government Efficiency” (D.O.G.E.).
At the time of writing, the price of Dogecoin is $0.4135, and its market cap is $398.8 million. About a few hours ago, the price of Dogecoin also reached its all-time high, $0.4609.
DOGE Price, Source: CoinMarketCap
The rally followed Musk’s announcement of his involvement in D.O.G.E. on social media, sparking enthusiasm among Dogecoin fans and crypto investors. Musk’s ongoing advocacy for Dogecoin, combined with this new government role, has amplified public interest and set off the latest price climb for the popular cryptocurrency.
With the backing of both Trump and Musk, many investors see this initiative as a form of indirect support for Dogecoin, driving its price to new heights and placing it back in the spotlight.
Also Read: Dogecoin Surges 20% as Trump Names Musk & Ramaswamy to DOGE
