The price of Dogecoin (DOGE) experienced a significant rally after Tesla CEO Elon Musk referred to himself as "The Dogefather" during an appearance on the All In podcast. Musk recreated a scene from The Godfather with a Dogecoin twist and questioned whether someone asking for Dogecoin instead of Bitcoin would be a true friend. Prior to this podcast appearance, DOGE's price had already increased due to Musk joking about Dogecoin being used as the official mascot for the "Department of Government Efficiency." Despite a recent market downturn, Dogecoin managed to recover its losses and hit a daily high after Musk's comments. This demonstrates that Musk still has a significant influence over the token, as seen during Dogecoin's rally to an all-time high earlier this year with his support. However, DOGE has since dropped 85.97% from that peak.



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