Dogecoin Price Rallies 16% In One Week Amid Elon Musk Support

Dogecoin price has seen a notable surge over the past week, largely influenced by endorsements from Elon Musk. The spike in value coincides with Musk’s active participation in the U.S. political scene, particularly his support for Donald Trump’s presidential campaign. Musk posted a picture of him, Trump, and the Shiba Inu dog with the D.O.G.E initials, sparking market rally amid investor excitements and speculations.