The popular meme token Dogecoin experienced a notable rise today as Tesla and SpaceX CEO Elon Musk reacted to Donald Trump’s proposal for a cabinet position in the event of Trump’s re-election. Musk humorously addressed the offer on X, showing his enthusiasm for the role, which he whimsically referred to as “DOGE” (Department of Government Efficiency).
Trump’s Cabinet Offer to Elon Musk Sparks Dogecoin Surge
Following recent remarks by the former President hinting at his intention to consider Musk for a cabinet position, Dogecoin saw a significant boost today, rising by nearly 5%. The surge in price has sparked speculation, particularly after the Tesla CEO’s lighthearted response to the suggestion.
Perfect name https://t.co/qOUblToy7v
— Elon Musk (@elonmusk) August 20, 2024
Elon Musk Responds to Trump’s Cabinet Offer with ‘DOGE’ Nod
On August 20, the American entrepreneur shared a post on X, declaring, “I’m ready to serve,” signaling his openness to a potential Cabinet position. Alongside the post, he included a photo of himself with the caption “D.O.G.E” (Department of Government Efficiency). This message has generated significant buzz across the country, suggesting that Musk might be considering joining the Republican presidential candidate’s team if they secure the election.
The 14-day Relative Strength Index (RSI) was at 47 today, suggesting a mostly neutral stance for the asset. However, Elon Musk’s recent comments have generated significant buzz around the popular meme cryptocurrency, particularly in the context of the current U.S. presidential election discussions.
Crypto Market Impact
Following Elon Musk’s playful endorsement of a “DOGE” cabinet position in response to Donald Trump’s offer, Dogecoin’s value surged by 4.71% in the past 24 hours, reaching $0.1049. Musk’s comments have generated significant buzz in the crypto community, contributing to the notable rise in Dogecoin’s price.
