Elon Musk Tweet Fuels Dogecoin Surge, Sends Department Of Government Efficiency (DOGE) Meme Coin Soaring

Elon Musk's Tweet Boosts Dogecoin and the Department of Government Efficiency Meme Coin

Elon Musk's tweet sparked a significant increase in the value of the Dogecoin (DOGE) and Department of Government Efficiency (DOGE) meme coins.

In response to news of California limiting SpaceX rocket launches, Musk tweeted, "D.O.G.E will fix it."

DOGE Surges After Musk's Tweet

The tweet led to a parabolic surge in the value of DOGE, with a maximum gain of 196%. However, it has since experienced a pullback and is currently down 3.2% as of 10.21 a.m. ET.

Dogecoin also saw a significant increase, rising nearly 18% to $0.1299 within 24 hours of Musk's tweet. It has since trimmed its gains and is now down over 4%.

Investors Explore Next Meme Coin Opportunities

Investors seeking the next potential meme coin success often consider pre-sales. Currently, a Pepe (PEPE) derivative, Pepe Unchained (PEPU), is gaining popularity.

PEPU has exceeded $20 million in funding as investors flock to a project that aims to introduce a modern version of the PEPE meme coin with its own Layer 2 blockchain.

The vision behind PEPU is to free PEPE from the constraints of Ethereum's Layer 1 blockchain.