Dogecoin Surges 150% Following Trump Election and Musk's D.O.G.E. Role

The cryptocurrency, initially created as a parody, gains momentum as Elon Musk and President-elect Trump fuel renewed interest.

Dogecoin's value has skyrocketed by 150% since Donald Trump's presidential election victory on November 5, 2024.
Elon Musk, a long-time Dogecoin advocate, has been appointed co-leader of the newly announced Department of Government Efficiency (D.O.G.E.), boosting the coin's visibility.
Dogecoin's market cap now stands at $58 billion, making it one of the standout performers in the crypto market's $3.4 trillion valuation surge.
The coin's community-driven ethos and Musk's influence have been pivotal in maintaining its relevance, despite skepticism about its long-term utility.
Critics highlight Dogecoin's reliance on hype and Musk's involvement, raising concerns about its stability and broader adoption as a functional currency.