Dogecoin Price Leaps Again as Bitcoin Nears All-Time High

It’s been a quieter few days for Dogecoin fans after a post-election season sprint that took the original meme coin to a three-year high price of about $0.43, but DOGE is finally running back up the charts again.

Dogecoin hit a price of $0.40 on Tuesday morning, per data from CoinGecko, for the first time since November 14, marking an 11% jump over the past 24 hours.

It’s the biggest gainer in the top 10 coins by market cap as of this writing, according to CoinGecko, though other coins in the top 100 like Hedera and Tezos have jumped higher over the past day.

DOGE has nearly tripled in price over the last 30 days, up 188% during that span. Part of that is likely due to the broader crypto market swell that has lifted all assets, with Bitcoin reaching new all-time highs in the process, thanks in part to the U.S. presidential election win of Donald Trump—a self-styled crypto candidate who made many promises regarding the industry.

But there’s also a specific connection with Trump supporter Elon Musk, a longtime fan of Dogecoin who has consistently pumped the coin over the years with his comments and actions. Musk supported Trump on the campaign trail, with DOGE rising amid his appearances, and now Musk will co-lead a so-called Department of Government Efficiency—yes, the D.O.G.E.—with entrepreneur Vivek Ramaswamy.

In fact, Tuesday’s jump coincided with a Musk post fashioning himself as “The Dogefather,” repeating a title he gave himself in 2021 as the coin surged to its peak price point.

Speaking of Bitcoin—the leading cryptocurrency is back on the hunt for a new peak price record, jumping as high as $92,720 on Tuesday morning for its highest mark in several days. The record to break is $93,477, set just last week.