Dogecoin (dog), which is a popular Meme Cryptocurrency. DogeCoin has once again attracted the attention of the market. On 1 April 2025 Dogcoin value Has increased by 7%. This boom came after the statement on Elon Musk’s role in the government by US President Donald Trump. Trump’s statement has increased the enthusiasm in Dogecoin Population, making investors considering whether DOGE will be able to maintain its lead and cross the important resistance level of $ 0.20.
Doge leaves the major cryptocurrency behind
While major cryptocurrency such as Etreum (Eth) and Solana (SOL) recorded a slight lead of less than 3%, Dogecoin’s rally was very strong. According to trading view data, Doge started trading at $ 0.16, which later rose to $ 0.18. This speed indicates that investors believe in Dogecoin’s possibility of further growing in the future.
The rally came after the time when there was uncertainty in the crypto market, in which Dogecoin faced a macroeconomic pressure such as American tariff policy and declining Crypto Market. Trump’s statement removed this uncertainty that returned the enthusiasm of investors to Dogecoin, which caused Doge to overtake its competition cryptocurrency.
Doge returns after panic cell-off
Prior to the 1st April rally, Dogecoin faced a lot of sale off, which was a normal trend seen throughout the Crypto Market. The instability was due to the Dout Dout about Elon Musk’s role in the US government. There were rumors that Musk could resign from his government advisory role, causing panic selling to begin and the price of DOGE fell below $ 0.16.
However, it was clarified by Trump that the Musk would remain in the government, so this made the market environment again good and a sharp recovery was observed in the price of Dogecoin.
Elon Musk’s influence on dogcoin
Elon Musk Crypto is considered one of the most influential personalities in the world and his role in Dogecoin has been a major cause of its value fluctuations. Musk’s tweets and business decisions have always promoted the value of Dogecoin.
When Musk was appointed to Trump’s Department of Government Efficiency (DOGE), investors began to worry that if Musk resigns from this role, the institutional interest in Dogecoin may decrease in Dogecoin, which may cause the price to fall. But this concern was removed by Trump’s support and the price of Dogecoin was seen.
According to previous news, Elon Musk has made it clear that now Dogecoin will have no relation in dogBecause people were starting to guess that there could be a relationship between the department and the cryptocurrency. But Musk dismissed the rumor and said that the department’s name came from the Internet as a name, not related to any cryptocurrency.
Dogecoin’s future
Currently, Dogecoin has returned from its previous low level and the recent rally has hoped investors that DOGE can cross the important resistance level of $ 0.20. The role of Elon Musk and his support for Dogecoin will be important in deciding the direction of its value. As the situation changes, the expectations of the community of Dogecoin will remain, but macroeconomic and political changes will also affect the price of Dogecoin.
Conclusion
The recent price growth of Dogecoin indicates that the support of political development and major celebrities has a profound impact on the cryptocurrency market. Investors will keep an eye on the role of Elon Musk and his place in the government, as well as paying attention to any other macroeconomic factors that can affect the price of dogcoin in the coming weeks.
