Dogecoin grew by 145% in a week

The Dogecoin cryptocurrency DOGE $0.11 Department Of Government Efficiency -11.69% Market capitalization $0.11 billion VOL. 24 hours $1.16 billion continues to show significant growth, increasing its price by 51% over the past 24 hours.

This growth has led to new rumors about the possibility of reaching the $ 1 mark.

It is reported that on November 10, DOGE exceeded the 41-cent level for the first time since May 2021, when the cryptocurrency reached a record $ 0.70.

It is known that in the last week alone, Dogecoin has brought investors more than 150% profit, and in the last 30 days, its value has almost tripled.

At the time of writing, the Dogecoin rate has reached $ 0.4116, the market capitalization is $ 60.41 billion, and daily sales are at $ 29.83 billion.

It is noted that the main factor contributing to the growth of cryptocurrency is the support of businessman Elon Musk.

It is known that within the framework of the Donald Trump administration, Musk discussed the idea of creating a «Department of Government Effectiveness» (D.O.G.E.), which further stimulated the interest of traders.

Also, the rise in Dogecoin prices led to an increase in market capitalization to $ 63.5 billion, although in October it was about $ 16 billion.

This was also preceded by Elon Musk spending tens of millions of dollars to help re-elect former President Donald Trump.