Dogecoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>DOGE price is up by over 5% today, following X posts by Elon Musk.</li> 
 <li>Musk revealed he’s willing to “serve” at the Department of Government Efficiency (DOGE).</li> 
</ul> 
<p>Dogecoin (DOGE) price surged by over 5% today, reaching prices over $0.105. At the moment of writing this article, DOGE has a market cap of over $15.37 billion.</p> 
<figure id="attachment_49096" aria-describedby="caption-attachment-49096" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/08/DOGE_1D_graph_coinmarketcap.jpeg"><img loading="lazy" decoding="async" class="wp-image-49096 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/08/DOGE_1D_graph_coinmarketcap.jpeg" alt="DOGE price in USD today" width="1200" height="800" title="DOGE Price Up by 5% Today Following Elon Musk's X Posts 7"></a>
 <figcaption id="caption-attachment-49096" class="wp-caption-text">
  DOGE price in USD today
 </figcaption>
</figure> 
<p>The coin’s price surge followed Elon Musk’s posts on X referring to DOGE. This time, Musk shared a post that mentioned the name of a potential new cabinet created by Donald Trump – Department of Government Efficiency (DOGE).</p> 
<blockquote class="twitter-tweet"> 
 <p dir="ltr" lang="en">Perfect name <a href="https://t.co/qOUblToy7v" rel="nofollow" target="_blank">https://t.co/qOUblToy7v</a></p> 
 <p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1825713908067479735?ref_src=twsrc%5Etfw" rel="nofollow noopener" target="_blank">August 20, 2024</a></p>
</blockquote> 
<p>This was a reference to the recent Trump-Musk<a href="https://crypto.ro/en/news/elon-musk-shut-down-massive-x-cyber-attack-ahead-of-record-shattering-trump-interview/"> interview</a> on X Spaces during which the former US President committed to Musk that he would create a Government Efficiency Commission led by him to cut the cost and size of the Federal Government.</p> 
<p>Later, Musk shared another<a href="https://x.com/elonmusk/status/1825723913051000851" rel="nofollow" target="_blank"> post</a> related to the issue via his X account, posting a photo of himself “serving” at the D.O.G.E. – Department of Government Efficiency.</p> 
<h2 id="musk-is-shilling-doge-again">Musk Is Shilling DOGE Again</h2> 
<p>Following a break, it looks like Musk started shilling DOGE again, but this time, his influence is less significant, compared to 2023.</p> 
<p>On April 3, 2023, Musk changed the iconic Twitter bird logo above the home button on the social network’s web version to the Dogecoin image. After the <a href="https://variety.com/2023/digital/news/elon-musk-twitter-logo-doge-dogecoin-meme-1235572343/" rel="nofollow noopener" target="_blank">logo change</a>, the value of DOGE rose more than 20%.</p> 
<p>Today, Musk’s mentions of the coin only managed to trigger a 5% surge.</p> 
<h2 id="the-2021-doge-rally">The 2021 DOGE Rally</h2> 
<p>On April 2, 2019, Musk shared a<a href="https://x.com/elonmusk/status/1113009339743100929" rel="nofollow" target="_blank"> post</a> on X formerly known as Twitter about DOGE saying “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”</p> 
<p>Musk’s post managed to gather around 11,000 likes so far, due to the lack of popularity of the coin back in 2019.</p> 
<p>DOGE remained dormant until early 2021 when it recorded its first significant rally that propelled the coin to its ATH of $0.53 on May 5th.</p>

DOGE Price Up by 5% Today Following Elon Musk’s X Posts

Table of Contents

crypto.ro global

Other articles published on Aug 20, 2024

Is This the Next 100x Crypto? Big-Time Ripple & Ethereum Traders Believe This Is True

XRP Surges 7%: Is the Golden Cross Signaling a Major Breakout?

Ripple Ordered to Pay $125M in Securities Law Violation Case, Possibly Ending SEC vs. Ripple Conf...

XRP Eyes Massive 30,000% Surge: Can Its Cap Hit $9.66 Trillion?

100K+ Backers Join BlockDAG Amid Dogecoin's Price Surge and Shiba Inu's Market Cap Growth

Marathon Digital Acquires $249M in Bitcoin Following $300M Senior Note Offering

Join our free newsletter for daily crypto updates!