Even months ago, it would’ve sounded like a meme-induced fever dream. Crypto emerging as the biggest winner of the 2024 election; Elon Musk, Dogecoin’s most prominent advocate, rising to unprecedented levels of influence and power; the incoming U.S. presidential administration  planning to establish a new federal agency—literally—called D.O.G.E. 

But it’s all real, and it’s all happening. And off the remarkable events of the last week, Dogecoin has soared. On election day, DOGE hovered around $0.15. Since then the token has nearly tripled in value, nearly touching $0.43 on Wednesday and hitting a three-year peak this week.

The world’s first meme coin has been here before, though, and tends to lose steam after major rallies. So how long is Dogecoin’s moment likely to last this time around?

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Author: Sander Lutz

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