Dogecoin Flips XRP, Hits 23 Cents as Elon Musk and Donald Trump Reignite Interest

Dogecoin (DOGE) has flipped XRP, with a 14% surge in just 24 hours, pushing the meme coin's price above 23 cents, its highest level since November 2021.

Dogecoin Surges Past XRP, Eyeing Top 3 Spot with Elon Musk's Endorsement

Dogecoin (DOGE) has made a remarkable surge in the past 24 hours, flipping XRP to claim the 4th position among cryptocurrencies by market capitalization. The meme coin experienced a 14% increase, pushing its price to over 23 cents—the highest it has been since November 2021.

This rally is largely attributed to the growing enthusiasm surrounding Elon Musk's involvement in the crypto market and his endorsement of Donald Trump's presidential campaign. With a market cap now exceeding $34 billion, DOGE is poised to potentially surpass stablecoin USDC's $37 billion valuation by Tuesday.

Musk's influence on Dogecoin is well-known, and his recent endorsements, coupled with Trump's presidential bid, have rekindled interest in the cryptocurrency. Trump's proposed "Department of Government Efficiency" (D.O.G.E.) has further cemented the connection between the tech mogul and the memecoin.

Despite the recent gains, experts remain divided on Dogecoin's future potential. Some analysts foresee a cautious rally to $1.80, while others predict a possible surge to $3.90 or even $10, should market conditions align. With technical indicators like the upcoming "Golden Cross" on the weekly chart, many believe Dogecoin could experience a significant rise in the coming months.

Currently trading at $0.2281, Dogecoin's momentum continues to drive market interest, making it one of the most-watched cryptocurrencies heading into the end of 2024. As Musk and Trump's influence continues to shape the narrative, Dogecoin could reach new heights in the near future