Dogecoin Boom days before Donald Trump officially takes office as president for a second time.

The price of the original meme coin He stands now At approximately $0.418 per coin after a 24-hour rise of 9%, according to CoinGecko.

The asset — the seventh-largest cryptocurrency by market cap — is currently at its highest price so far in 2025. Over the past seven days, it has jumped 27%, making it one of the biggest winners among the top cryptocurrencies and tokens. .

Traders who are betting on a coin's future price movement are also betting big: CoinGlass data He appears That open interest in the coin exceeded $5.5 billion, a new record for an OG meme coin. Open interest refers to the collective value of futures contracts that have not yet been settled by traders.

Dogecoin - trading as DOGE - gained popularity when the world's richest man, Elon Musk, started pumping out the coin on Twitter (now X). It has risen to new highs and earned a place among the top 10 cryptocurrencies by market cap in 2021.

Fast forward to 2024, and tech entrepreneur Musk is talking about the currency again while supporting President-elect Trump on the campaign trail — albeit also at the same time. Recognition He is not actively involved in cryptocurrencies.

The currency has continued to rise since Trump's victory in particular Next news That the head of Tesla, X, and SpaceX will have a place close to Trump to help shape policy with a government body called... Government Efficiency Department (Doug)

It is not clear whether Musk deliberately chose the name of the government department - with the aim of cutting costs and bureaucracy - to match the Dogecoin ticker, but the billionaire admitted that He loves Memes.

DOGE jumped to $0.48 in December, the highest price for the coin in three years. As of this writing, Dogecoin is still down 43% from its all-time high above $0.73 since May 2021.

Modified by Andrew Hayward