Dogecoin Surges Amid Speculation of Musk-Trump Role

Dogecoin (DOGE) has experienced a significant surge, reaching its highest levels since May 2021, with a 48% increase in the last 24 hours and a weekly gain of over 150%. This rally is largely attributed to speculation surrounding Elon Musk's potential involvement in a Trump administration and the creation of a 'Department of Government Efficiency,' humorously abbreviated as D.O.G.E. Analysts have set ambitious price targets, with some predicting a rise to $1 and others suggesting even higher targets due to patterns like the 'golden cross' and 'inverse head and shoulders.' The meme coin's market capitalization has also soared, positioning it as the sixth-largest cryptocurrency. Despite the enthusiasm, the sustainability of this rally remains uncertain, with potential challenges for altcoins in maintaining institutional interest.