Dogecoin Surges Over 6% on Whale Buying Amid Elon Musk America Party Launch

Dogecoin (DOGE) surged more than 6% recently, driven by Elon Musk's announcement of his new political group, the America Party, which strongly supports Bitcoin and criticizes current financial policies, including those of President Trump. While Dogecoin was not explicitly mentioned in the party's platform, Musk's history of integrating DOGE into Tesla and X products has fueled speculation about its potential role in his political and financial vision. This rally saw significant whale accumulation, with large wallets buying aggressively as smaller holders sold, indicating renewed institutional confidence. The broader crypto market also benefited, with Bitcoin reclaiming levels above $109,000 amid growing optimism for a Federal Reserve rate cut and easing tariff fears. DOGE's price broke through multi-month resistance levels, establishing strong support around $0.166 and reaching highs near $0.174 on increased trading volume exceeding $1.1 billion. Analysts have identified further upside targets, suggesting that if bullish momentum continues, Dogecoin could test higher price zones in the near future.