Elon Musk Subtly Promotes Dogecoin Again with Unconventional Reference

Elon Musk, one of the world’s wealthiest individuals and the founder of Tesla and SpaceX, has once again drawn attention to the popular meme cryptocurrency Dogecoin (DOGE). This time, Musk did so in his signature unconventional style.

In a recent post on his social media platform, X (formerly known as Twitter), Musk referred to the “Department Of Government Efficiency,” a fictional government agency he humorously claims to be lobbying for and intends to lead. Notably, this hypothetical department conveniently abbreviates to “DOGE.”

While the purpose of this imaginary department remains unclear, and its existence is purely speculative, some politicians have already expressed support for Musk’s playful concept. What is certain, however, is that the billionaire has once again spotlighted Dogecoin to his nearly 200 million followers, albeit in a subtle way.

Meanwhile, the price of Dogecoin itself has been displaying bullish momentum. The decline from the previous day was nearly fully recovered with the start of the new daily trading session. Additionally, since the beginning of the week, DOGE has gained 6.76%, appearing to follow a bullish “falling wedge” pattern that was identified on its price chart a few days earlier.

Should this pattern play out entirely, Dogecoin could potentially surge to $0.15 per coin, representing a 50% increase from its current price levels.

Whether Musk’s latest mention of DOGE will contribute to reaching this target remains uncertain, but all signs suggest the conditions may be aligning favorably.

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