Dogecoin, a popular meme coin, has seen a recent price jump. After reaching its highest price in three years, $0.43, in the post-election period, the coin has continued to rise, hitting $0.40 on Tuesday morning, according to CoinGecko. This marks an 11% increase over the past 24 hours, making it the biggest gainer in the top 10 coins by market cap.
Over the last 30 days, Dogecoin has nearly tripled in price, with an 188% increase during this period. This price surge is partly due to the broader crypto market’s growth, with Bitcoin also reaching new all-time highs. Elon Musk, a strong supporter of Dogecoin, has contributed to the coin’s rise through his comments and actions, including his support for Trump during the campaign.
Trump’s election is also believed to have positively impacted the crypto market, with the U.S. presidential victory bringing increased attention to the industry.