Skip to content
Crypto News Focus logo CNF_CRYPTO_NEWS_FOCUS_LOGO 8

Crypto News Focus

your day to day crypto news site

Primary Menu
  • Home
  • News
    • Bitcoin News
    • Ripple XRP news
    • Ethereum News
    • Cardano News
    • Shiba Inu News
    • Pi Network News
    • More
  • Analysis
  • PR Desk
  • About Us
  • General Policy & Privacy
  • Guides
    • Bitcoin Guides
    • Pi Network Guide
    • Cardano Guide
  • Politics
  • Tech
  • Home
  • News
  • Elon Musk’s Cryptic Comment Sends Dogecoin Soaring 9% in Hours
  • News

Elon Musk’s Cryptic Comment Sends Dogecoin Soaring 9% in Hours

Cal Evans 19 October 2024
dogecoin on marbles
  • Dogecoin surged 9% to $0.14 after Elon Musk jokingly referred to “D.O.G.E.” during a town hall meeting in Pennsylvania, sparking excitement among crypto enthusiasts.
  • Musk’s influence over the coin continues to drive significant price movements, as seen in this latest rally.

Dogecoin, the popular meme-based cryptocurrency, saw a sudden 9% jump in value, reaching $0.14, after Elon Musk made a surprising reference to it during a town hall meeting in Pennsylvania. This spike, which pushed Dogecoin’s market cap to $20 billion, once again demonstrated Musk’s unique ability to impact the crypto world with just a few words.

Musk’s “D.O.G.E.” Quip Sparks Excitement

The catalyst for Dogecoin’s surge came when an attendee at Musk’s town hall asked about his plans for improving government efficiency. Musk, in typical tongue-in-cheek fashion, responded, “Yeah, D.O.G.E.,” cleverly tying the meme cryptocurrency’s acronym to his idea for a Department of Government Efficiency. The crowd’s enthusiastic response was mirrored online, where Dogecoin enthusiasts celebrated the unexpected shoutout, driving a flurry of activity across social media platforms.

The Elon Musk Effect: Dogecoin’s History of Price Swings

This isn’t the first time Elon Musk has caused Dogecoin’s price to skyrocket. His tweets and comments over the years have repeatedly influenced the coin’s value, often to dramatic effect. In May 2021, Dogecoin hit its all-time high of $88 billion in market cap following Musk’s appearance on Saturday Night Live, where he jokingly referred to himself as the “dogefather.” More recently, a class-action lawsuit accusing Musk of manipulating Dogecoin’s price was dismissed, removing any legal barriers to his continued influence over the coin.

Dogecoin Outperforms Bitcoin

While Dogecoin surged 9%, Bitcoin, the world’s largest cryptocurrency, only managed a 3% increase during the same period. This highlights the continued strong interest in Dogecoin, which is known for its loyal fanbase and volatile price swings. Many crypto enthusiasts are now speculating that a potential Donald Trump presidency—supported by Musk—could lead to more favorable regulations for cryptocurrencies, further boosting the market.

A Rollercoaster Ride for Dogecoin

Dogecoin’s price has been on a rollercoaster throughout the year, falling as low as $0.05 in late 2023 before rebounding to $0.22 in March. However, market concerns such as rising interest rates in June caused the coin to drop by 10%. Since then, Dogecoin has stabilized around $0.10—until Musk’s latest comment reignited interest. As investors keep a close eye on its performance, many are wondering how far this latest surge can take Dogecoin.

Elon Musk’s influence over Dogecoin remains undeniable, with his latest quip adding another chapter to the cryptocurrency’s unpredictable journey. Whether this surge is temporary or the start of another significant rally remains to be seen, but one thing is certain: when Elon Musk speaks, the crypto world listens.

Continue Reading

Previous: Bitcoin ETFs Reach Record $21 Billion in Net Inflows: What’s Driving Investor Demand?
Next: Will Cardano (ADA) Surge Past $0.54? The Market Awaits

Related Stories

dogecoin on marbles
  • Analysis

Dogecoin Price Prediction: 30% Crash Looms After $38M in Losses

Jane Kariuki 30 June 2025
Sollana logo on blue background
  • Analysis

Solana ETF with Staking Launches July 2 Offering Passive Income

Cal Evans 30 June 2025
VeChain chart showing rising channel pattern signaling potential breakout in 2026
  • Blog

How VeChain Is Solving Supply Chain Issues with Blockchain

vivian 30 June 2025

For general inquiries, please email us at Info@cryptonewsfocus.com

Crypto news focus is your day-to-day crypto news site. Get all the latest News and trends in the crypto, blockchain, and DeFi space. For more info and inquiries, reach out via email at info@cryptonewsfocus.com

You may have missed

dogecoin on marbles
  • Analysis

Dogecoin Price Prediction: 30% Crash Looms After $38M in Losses

Jane Kariuki 30 June 2025
Sollana logo on blue background
  • Analysis

Solana ETF with Staking Launches July 2 Offering Passive Income

Cal Evans 30 June 2025
VeChain chart showing rising channel pattern signaling potential breakout in 2026
  • Blog

How VeChain Is Solving Supply Chain Issues with Blockchain

vivian 30 June 2025
SUI PRICE ANALYSIS IMAGE
  • News

SUI Leads $484M Token Unlock as ENA, SOL, OP, AVAX & DOGE Flood the Crypto Market

Simon Njenga 30 June 2025

Social Media

Crypto News Focus © All rights reserved | MoreNews by AF themes.
Go to mobile version
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok