Dogecoin Surpasses Ford Market Cap as Musk’s Influence Sparks Surge

Dogecoin has had a major breakthrough recently, surpassing Ford’s market cap with a whopping $59.37 billion as of November 27, 2024. This surge is part of a larger 175% increase in Dogecoin’s price over the last month. Elon Musk, a strong supporter of Dogecoin, has played a key role in this meteoric rise. His involvement in launching the Department of Government Efficiency (DOGE) has sparked interest among investors, with some even predicting a potential 1,000% price increase for the memecoin.

But that’s not all – a new development has also fueled Dogecoin’s momentum. Valour, a subsidiary of DeFi Technologies, recently unveiled the first-ever Dogecoin-based exchange-traded product (ETP) on November 26, 2024. This new product is expected to attract even more institutional interest to Dogecoin, thanks to increased demand spurred by events like the U.S. presidential election and Musk’s influence.

With Musk’s continued support and the introduction of innovative financial products like the DOGE ETP, it’s clear that Dogecoin’s rise is far from over. Over the past year, Dogecoin has seen a remarkable 425.6% increase, solidifying its position as a major player in the crypto world. The future looks bright for this memecoin as it continues to make waves in the market.