DOGE Jumps 6% Following Elon Musk’s Latest Dogecoin Post

Elon Musk's Dogecoin Endorsement Inspires Price Surge

Elon Musk's recent social media post has significantly boosted the price of Dogecoin. The post, depicting Musk as the head of the "Department of Government Efficiency" (DOGE), has sparked excitement among his supporters.

Musk's Dogecoin Legacy

Elon Musk has a history of influencing Dogecoin's performance. In 2024, the cryptocurrency's value surged due to expectations of Musk integrating Dogecoin payments into Tesla.

Market Response to Post

Following Musk's post, Dogecoin's price increased 6% in 24 hours. The trading volume also jumped by 44%, indicating investor enthusiasm.

Musk's Role in US Politics

Apart from his involvement in crypto, Elon Musk is actively engaged in US politics. He recently met with Republican presidential candidate Donald Trump, fueling speculation about a potential announcement related to crypto and DeFi.

Trump's Dogecoin Offer

President Trump has expressed interest in appointing Musk to a cabinet role or as an advisor if he is re-elected. This potential collaboration could have significant implications for the crypto industry.

Caution and Optimism

While Musk's endorsement is a positive sign, it remains unclear whether the price surge will be sustained. Investor sentiment remains cautious, with the Fear and Greed Index indicating "Fear." Nonetheless, the crypto community is hopeful that Musk's involvement will continue to drive growth.