The Ethereum-based meme coin, Department of Government Efficiency (D.O.G.E.), has experienced an incredible surge of 291% this week. This substantial rise has even outpaced the gains of the well-known Dogecoin, largely attributed to the hype surrounding Elon Musk.
Elon Musk's influence, known for affecting cryptocurrency markets, appears to have been a significant factor in the remarkable performance of the D.O.G.E. meme coin. As a result, this Ethereum-based coin has gained substantial interest from investors looking toward the crypto market for high returns.
The exceptional growth of D.O.G.E. highlights the volatile yet opportunistic nature of meme coins within the cryptocurrency realm. Investors are drawn to these coins, often swayed by popular public figures like Elon Musk, whose actions or endorsements can lead to unexpected market movements.
