Dogecoin Swells 29%, Becomes Sixth-Largest Crypto As Investors Await Elon Musk-Headed DOGE Department Under Trump
Posted On November 11, 2024
Dogecoin (CRYPTO: DOGE) continued to defy gravity on soaring expectations of an Elon Musk-headed Department of Government Efficiency (DOGE) under President-elect Donald Trump.
What happened: The king of dog-themed cryptocurrencies ballooned over 29% in the last 24 hours, rising to the sixth position of the largest cryptocurrencies by market capitalization.
The token’s trading volume spiked 220% to over $17 billion in the last 24 hours, making it the fourth-most traded cryptocurrency in the said period.
Sunday’s rally boosted Dogecoin’s weekly gains to over 93%, making it the best-performing large-cap digital asset during the election week.
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