Dogecoin is driving excessive days earlier than Donald Trump formally turns into president for a second time.
The worth of the unique meme coin now stands at practically $0.418 per coin after a 24-hour rise of 9%, in keeping with CoinGecko.
The asset—the seventh largest cryptocurrency by market cap—is at the moment at its highest value to this point in 2025. Over the previous seven days, it has jumped by 27%, making it one of many largest winners out of the highest digital cash and tokens.
Merchants betting on the longer term value motion of the coin are additionally betting huge: CoinGlass knowledge reveals that open curiosity on the coin topped $5.5 billion—a brand new report for the O.G. meme coin. Open curiosity refers back to the collective worth of futures contracts that haven’t but been settled by merchants.
Dogecoin—which trades as DOGE—gained a cult following when the world’s richest man, Elon Musk, began pumping the coin on Twitter (now X). It surged to new highs and gained a spot within the high 10 cryptocurrencies by market cap in 2021.
Quick-forward to 2024, and tech entrepreneur Musk began speaking in regards to the coin once more whereas supporting President-elect Trump on the marketing campaign path—albeit whereas additionally admitting that he is not actively concerned in crypto.
The coin has continued to rise since Trump’s win, particularly following information that the Tesla, X, and SpaceX boss would have a spot near Trump serving to form coverage with a authorities physique named the Division of Governmental Effectivity (DOGE)
It is not clear whether or not Musk intentionally selected the identify of the federal government division—geared toward chopping prices and forms—to match the Dogecoin ticker, however the billionaire has admitted that he loves memes.
DOGE jumped as excessive as $0.48 in December, marking a three-year excessive value for the coin. As of this writing, Dogecoin stays down 43% from its all-time excessive mark above $0.73 from Could 2021.
Edited by Andrew Hayward
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