Musk's increased prominence as he campaigns for Trump, his comments about cryptocurrencies, and potential influence in a Trump administration are driving up crypto prices.
Musk's long-standing affection for Dogecoin has led to notable price swings, with a recent rally causing its price to surge over 20% in just seven days.
Increased interest in cryptocurrencies, particularly Bitcoin and Dogecoin, correlates with Musk's presence in the political arena, stirring up speculation and investment.
Investors anticipate a potential Musk-led Department of Government Efficiency, contributing to the frenzy, as Dogecoin has seen substantial gains since his remarks.
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