Dogecoin, a cryptocurrency, has risen to a new high value of $0.247, its highest price in nearly three years. It has increased in value by more than 100% in the past month and 66% in the past week, according to CoinGecko. This increase is due to Elon Musk, CEO of Tesla and SpaceX, who is a fan of Dogecoin, throwing his support behind Donald Trump.
Musk discussed a potential Department of Government Efficiency (D.O.G.E.) agency that Trump could lead, which helped fuel Dogecoin’s rise. Dogecoin traders have been excited by Trump’s win and the broader crypto market’s surge, pushing Dogecoin to new heights. Bitcoin also nearly reached a new all-time high of $80,000, but fell just short at $79,993.
