Dogecoin (DOGE) Soars 10% After Musk’s Appearance on Joe Rogan’s Podcast: Details

TL;DR

Dogecoin (DOGE) has surged following Elon Musk's comments on a possible "D.O.G.E." government department. Some analysts believe DOGE could potentially reach $1 if Trump wins the US presidential elections.

DOGE's Rally

The cryptocurrency market is experiencing a slight downturn, with Bitcoin (BTC) and Ethereum (ETH) facing losses. However, DOGE stands out as a notable exception, posting a 10% price increase to nearly $0.17.

This impressive performance is attributed to Elon Musk's recent appearance on the Joe Rogan podcast, where he discussed the potential establishment of a Department of Government Efficiency (D.O.G.E.) if Trump wins the elections. Musk elaborated on the division's mission, emphasizing its focus on reducing government spending and addressing bureaucratic inefficiencies.

Potential for $1

Analysts have taken notice of DOGE's resurgence and predict further growth in the future. X user Satoshi Flipper suggests that a Trump victory could lead to sustained hype and speculation around the Department of Government Efficiency, potentially pushing DOGE's price to $1.

While hitting $1 currently seems unlikely given DOGE's market cap, it's worth noting that it previously soared above $90 billion in May 2021. Therefore, the potential for significant price volatility remains.