Key Points
- DOGE price surged significantly today, reaching prices above $0.13.
- During a public meeting in Pennsylvania yesterday, Elon Musk mentioned “Doge”.
Dogecoin (DOGE) price surged significantly today, by around 10%. Earlier, the memecoin’s price reached levels above $0.1357.
At the moment of writing this article, DOGE is trading at $0.134, and it has a market cap of over $19.63 billion.
During the past seven days, DOGE traded around $0.11, until October 16 when the memecoin recorded a surge to $0.12.
Today’s price surge comes following statements made by Elon Musk during a Pennsylvania meeting yesterday.
Musk Mentioned “Doge” While Endorsing Trump In Pennsylvania
During an event at Ridley High School, in Folsom, Pennsylvania, an attendee asked Musk at one point is he would head up a new “Department of Government Efficiency,” and the tech mogul responded, “Yeah, Doge.”
This was a reference to an August Trump-Musk interview 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.
The DOGE community interpreted Musk’s comments as another endorsement of the coin, which has seen rallies following public statements before.
Musk Shows Public Support For Trump Ahead of 2024 US Elections
The tech billionaire kicked off a campaign swing across Pennsylvania yesterday in support of Donald Trump, highlighting the importance of the battleground state in the nearing US elections.
As cited by The Hill, Musk said that he cannot emphasize enough the importance of Pennsylvania and the overall US elections that are going to decide the fate of America and along with it, the fate of the entire Western civilization.
Musk also highlighted that he hasn’t been politically active before, but he is now.
In the past months, the tech mogul has been showing increased support for Trump, while telling people that the 2024 US elections will be the most important ones of their lives.
