Dogecoin Returns to Top 10: Will Elon Musk Push it to $1?

• Dogecoin rallied over 50% in the last seven days to climb into top 10 cryptos on CoinmarketCap.
• DOGE users are hoping for a sign that Elon Musk will participate in the developing bull run.
• Musk’s comments contributed to Dogecoin’s 28,000% gain in the previous bull run.

Dogecoin, the famous dog-themed meme coin, has sugged significantly this week. The cryptocurrency rallied over 50% in the last seven days, replicating moves similar to its behavior in the previous bull run. Data from CoinmarketCap shows DOGE is back among the top 10 cryptos, trading for $0.128, with a market cap of $18.34 billion.

DOGE’s rally is comparable to its behavior four years ago, when Elon Musk, the owner of X, openly supported the meme coin. Musk made several comments that triggered Dogecoin’s rally in the previous bull run, forming the tailwind for the crypto’s rise to prominence.

Following DOGE’s latest surge, many crypto users are watching whether the X owner will play a role in the meme coin’s resurgence. If that happens, many crypto users will ponder how far DOGE would go this time. 

In 2020, Musk’s comments were inclined toward his support and purchasing of…

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