Elon Musk’s ‘DOGE’ Department Mention Gives Dogecoin Boost To Top Of Daily Gainers: Memecoin Spikes 6%
Posted On November 5, 2024
The leader of dog-themed cryptocurrencies, Dogecoin (CRYPTO: DOGE), surged Monday after Elon Musk mentioned DOGE, an acronym for the potential Department of Government Efficiency, during a podcast with Joe Rogan.
What happened: The largest meme coin by market capitalization jumped over 6% in the last 24 hours, rising to the top of the daily gainers list.
The token’s trading volume spiked 30% to nearly $2.8 billion in the last 24 hours, making it the fourth-most traded cryptocurrency in the period if one were to exclude stablecoins.
The latest uptick reversed DOGE’s downward trend over the weekend, with monthly returns shooting past 47% as of …
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