DOGE Market Cap Surpasses Ford and Delta

Bittime - DOGE market cap is now surpassing major companies like Ford and Delta, thanks to a price surge powered by Elon Musk.

Dogecoin's market capitalization, or DOGE market cap, has recently experienced a significant spike, surpassing the market value of some major companies like Ford and Delta Air Lines.

This price spike came after President-elect Donald Trump appointed Elon Musk and Vivek Ramaswamy to lead the “Department of Government Efficiency” (DOGE), which aims to streamline US government bureaucracy. This announcement was welcomed by crypto investors and pushed crypto dogecoin to a higher position in the market.

DOGE Market Cap: More Valuable than Big Companies

On Wednesday, the price of dogecoin jumped to around $0.40 per coin, up from $0.17 before the election. This increase caused DOGE's market capitalization to reach around $60 billion.

This makes Dogecoin more valuable than major companies like Ford, Delta Air Lines, and General Mills. This increase in market value shows the power of the crypto community as well as Elon Musk's huge influence in shaping the market with just one announcement.

Also read: Dogecoin (DOGE) Predicted to Break $1 According to Leading Crypto Analysts

Elon Musk and His Support for Dogecoin Crypto

Elon Musk has long been known as a fan of crypto dogecoin, a meme-based coin originally created as a joke in the 2010s.

The Tesla CEO regularly uses social media to express his support for dogecoin, which has boosted its price in the crypto market. In fact, Tesla in 2022 began accepting dogecoin as a payment method for some products on its online store.

Musk also supported Trump's campaign in the most recent election, donating at least $200 million to the campaign. With Musk's appointment as chairman of the “Department of Government Efficiency,” the impact on crypto markets is becoming increasingly apparent.

Investors view this appointment as a signal that the US government may be more friendly towards the crypto industry in the future.

Why are Dogecoin and the Crypto Market Soaring?

Apart from Dogecoin, other cryptocurrencies like Bitcoin and stocks of crypto companies like Coinbase have also seen a surge in the past week.

Analysts believe that the incoming Trump administration may be more supportive of innovation in the crypto sector. This move has not only strengthened the crypto market, but also boosted the doge market cap to new heights.

The rise of dogecoin also shows the enthusiasm of the crypto community towards the future of digital currencies under an administration that is considered more crypto-friendly. In the near future, crypto dogecoin and the crypto sector in general could enjoy greater stability thanks to Musk's influence and the new direction taken by the US government.

What Does the Rise in DOGE Market Cap Mean for the Future of Crypto?

Dogecoin's rise in market value represents a significant shift in how investors view meme-based cryptocurrencies.

With a market capitalization value that exceeds that of major corporations, Dogecoin is now not just a joke, but a financial instrument with real impact. Under Elon Musk's direction of DOGE, the future of crypto dogecoin and the crypto sector as a whole looks even more promising.

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