Key Points
- DOGE price is up by over 5% today, following X posts by Elon Musk.
- Musk revealed he's willing to "serve" at the Department of Government Efficiency (DOGE).
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.
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).
This was a reference to the recent 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.
Later, Musk shared another post related to the issue via his X account, posting a photo of himself "serving" at the D.O.G.E. - Department of Government Efficiency.
Musk Is Shilling DOGE Again
Following a break, it looks like Musk started shilling DOGE again, but this time, his influence is less significant, compared to 2023.
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 logo change, the value of DOGE rose more than 20%.
Today, Musk's mentions of the coin only managed to trigger a 5% surge.
The 2021 DOGE Rally
On April 2, 2019, Musk shared a post on X formerly known as Twitter about DOGE saying "Dogecoin might be my fav cryptocurrency. It's pretty cool."
Musk's post managed to gather around 11,000 likes so far, due to the lack of popularity of the coin back in 2019.
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.
