The price of Dogecoin, a popular cryptocurrency, has been rising as billionaire Elon Musk continues to advocate for former President Donald Trump during the U.S. presidential election. Dogecoin saw a 7.3% increase in price on Monday, reaching $0.157, while Bitcoin and Ethereum both experienced slight losses. Musk has been actively supporting Trump and has spoken at campaign rallies, as well as promoting a Dogecoin-inspired agency called the Department of Government Efficiency (D.O.G.E.), which he claims could save trillions of dollars in government spending annually. The increased visibility of Dogecoin due to Musk's involvement, combined with a renewed appetite for risk assets and a positive environment for cryptocurrencies, has contributed to its recent rally. However, the price of Dogecoin has previously experienced volatility following Musk's comments, so its future performance may be influenced by the outcome of the election.



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