Dogecoin has become one of the top-performing major crypto assets this week, rallying 25% over the past seven days.
The Tesla and SpaceX CEO has become a major financial backer of Trump’s campaign and has poured over $70 million into a political action committee (PAC) named America PAC to support Trump and other Republican candidates ahead of the November elections.
Crypto investors believe that a Trump victory could boost interest in Dogecoin among retail investors.
Dogecoin’s value surged by 10% after Elon Musk introduced his “Department of Government Efficiency” (D.O.G.E) during his first campaign swing for Trump across Pennsylvania.
