Dogecoin (DOGE) is currently the only memecoin among the top 10 cryptocurrencies by market cap. While competitors came and went, DOGE has maintained its dominance as a top-tier crypto project. CoinGecko data shows that the memecoin has rallied by 1.2% in the last 24 hours and 7.9% in the last week, but is down 14.1% in the 14-day charts and 24.2% in the last month. While Dogecoin (DOGE) has struggled in recent times, there is a chance things could change in the coming weeks following Elon Musk becoming the world’s first trillionaire.
Will Dogecoin Rally After Elon Musk Became A Trillionaire?
Musk has publicly disclosed his admiration for Dogecoin (DOGE) on multiple instances. He has stated that he likes the non-serious nature of the coin. He has also said that it would be ironical if the cryptocurrency that started as a joke ended up being the main one. Musk did not stop at just vocally admiring Dogecoin (DOGE). He has also enabled DOGE payments for Tesla and SpaceX merchandise.
There is also a lot of talk about X including DOGE payments on its X Money platform. Dogecoin (DOGE) being included on X Money will lead to mass exposure for the memecoin. The move could push DOGE to a new all-time high. Musk also stated that he would put an actual Dogecoin on the moon by 2027. SpaceX is also expected to launch the DOGE-1 satellite, which was funded entirely using DOGE.
Also Read: SpaceX Stock Makes History With Record $75 Billion IPO
The global spotlight is brighter than ever on Musk after becoming the world’s first trillionaire. The SpaceX IPO (Initial Public Offering) has put the world’s richest person in a different league altogether. Given his new status, we could see some action in Dogecoin (DOGE). While such a move is not guaranteed, Musk’s actions has often led to DOGE price rallies. The next time the tech mogul mentions DOGE, we could see massive price movements.
Credit: Source link