The post Elon Musk’s D.O.G.E Post Sends Dogecoin Up 6% appeared on BitcoinEthereumNews.com.

Dogecoin (DOGE) has surged nearly 6%, fueled by a recent post from X CEO Elon Musk. The rise follows speculation that the SpaceX executive could have a role in a potential Donald Trump administration. Musk, a well-known Dogecoin advocate, recently stated that he won’t promote any cryptocurrency unless it’s in a joking context. Dogecoin Soars 6% on Elon Musk’s Post Captioned “I am willing to serve,” the post humorously showcased the Department of Government Efficiency (D.O.G.E.), a fictional role Musk suggested in a potential Trump administration. Musk also remarked that the “Department of Government Efficiency” was the “perfect name,” as it closely mirrors Dogecoin’s ticker, DOGE. The news follows comments from Donald Trump, the Republican nominee for the upcoming US elections, who expressed a willingness to consider Musk for a cabinet position. Trump also suggested he might take Musk on in an advisory role if he wins the November elections. “I have discussed with Donald Trump the idea of a government efficiency commission and I would be willing to be part of that commission,” Musk said recently. Read more: How To Buy Dogecoin (DOGE) and Everything You Need To Know Elon Musk On DOGE Post. Source: X/Twitter Notably, Elon Musk’s social media posts have a long history of driving Dogecoin’s value, as community members often view them as endorsements of the meme coin. Similarly, developments involving Musk’s companies, SpaceX and X (formerly Twitter), have also sparked volatility in what’s often referred to as the “Bitcoin of meme coins.” In a July appearance on the X Takeover podcast, Musk expressed his fondness for Dogecoin, mentioning his affection for dogs and memes as reasons behind his soft spot for the coin. Despite this, the tech magnate reiterated his stance that he won’t endorse any cryptocurrency unless it’s in a joking context. “I do think there…

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Filed under: News - @ August 20, 2024 10:23 pm