Dogecoin Price Forecast: DOGE Surges as Elon Musk-Led ‘D.O.G.E’ Initiative Gains Traction: Can Doge Hit $1?

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Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Over the past 24 hours, the Dogecoin price has seen somewhat of a cooldown following an explosive 10% surge yesterday, potentially driven by anticipation of a bigger Elon Musk endorsement in the months ahead.

Following a lackluster past few weeks, Dogecoin seems to be breathing new life, securing a 13.68% gain since last Thursday.

While other notable meme coins have ridden the bullish wave seen this month, Dogecoin has been lagging behind.

However, it seems that Dogecoin is now a hot topic, with trading volume surging over 44.42% to $2.19 billion over the past 24 hours.

Speculation is growing around the potential formation of Elon Musk’s proposed “Department of Government Efficiency,” abbreviated to “D.O.G.E,” as he aligns more closely with Republican candidate Donald Trump.

Department of Government Efficiency pic.twitter.com/HFeHYNIkJN

Over the past few months, Musk’s increasing donations and endorsements for Trump have fueled discussions about this new initiative.

Trump has said he would enlist Musk to run a “government efficiency commission” if he wins a second term as U.S. president, in a pledge to to make government spending more efficient.

This idea was met with optimism from Musk, who expressed his readiness to serve in an X post following Trump’s statements, saying, “I look forward to serving America if the opportunity arises. No pay, no title, no recognition is needed.”

D.O.G.E will fix it