Elon Musk posted an image referencing "D.O.G.E." (Department of Government Efficiency), leading to a surge in Dogecoin prices by 3.56% to 6.5%.
Musk's post followed a suggestion by Trump to offer him a government position, although Musk had recently clarified he wouldn't actively promote cryptocurrencies.
Despite this, he mentioned having a "soft spot" for Dogecoin, which influenced the market. Some analysts believe there is potential for Dogecoin to breakout further in the future.
