Department Of Government Efficiency: Musk-Inspired D.O.G.E. Token Sees 291% Gain
The post Department Of Government Efficiency: Musk-Inspired D.O.G.E. Token Sees 291% Gain appeared on BitcoinEthereumNews.com.
TLDR: New meme coin D.O.G.E. (Department of Government Efficiency) surged 291% in a week, reaching $0.163 Token was inspired by Elon Musk’s joke about running a government agency under Trump D.O.G.E.’s market cap hits $161 million since August 2024 launch Original Dogecoin reached seven-month high of $0.21 on Election Day Both tokens saw price increases following Musk’s public appearances with Trump The Department of Government Efficiency (D.O.G.E.) token, an Ethereum-based cryptocurrency inspired by Elon Musk’s comments about a hypothetical government agency, has seen remarkable price movement in the past week. Data from CoinGecko shows that D.O.G.E. token prices increased by 75% in just 24 hours, reaching $0.163. This surge contributes to an impressive weekly gain of 291%, outpacing the performance of its namesake inspiration, Dogecoin. Department Of Government EfficiencyDOGE Price The token’s creation traces back to August 2024, when Elon Musk joked online about establishing a Department of Government Efficiency (D.O.G.E.) under a potential second Trump administration. Crypto developers quickly seized on the idea, launching the D.O.G.E. token shortly after Musk’s comments. Since its launch, the token has shown strong market performance, with its value increasing by more than 1,400%. The current market capitalization stands at $161 million, according to the latest trading data. Meanwhile, the original Dogecoin has also experienced notable gains. On Election Day, DOGE reached $0.21, marking its highest price point in seven months. This surge helped Dogecoin overtake XRP to become the seventh-largest cryptocurrency by market capitalization, with a total value of $30 billion. Trading activity for both tokens has been closely tied to Elon Musk’s public appearances and social media activity. In September, when former President Trump shared one of Musk’s posts about the fictional agency, both tokens saw immediate price increases. A key moment came during Musk’s appearance at a Trump rally at Madison…
Filed under: News - @ November 8, 2024 10:25 pm