Key Price Action in Dogecoin (DOGE) as the Meme Coin Rallies by 20% in a Week

Dogecoin recently fluctuated by over 13% as its price went from a $0.1264 low to a $0.1431 high in the past 24 hours. As of early Monday morning, July 22, the dog-themed meme coin still displays more than 6% gain at the $0.14 range.

Dogecoin price fluctuated 13% in the last 24 hours, falling from $0.1264 to 0. It rose to $.1431. As of Monday morning, the dog-themed meme coin is still showing gains of more than 6% at $0.14.

During this time, Dogecoin's trading volume increased by approximately 21%, with $1.34 billion worth of tokens moving between addresses. Meanwhile, the market value of the token's 145.22 billion circulating supply has increased to $20.44 billion.

Looking at the charts from a distance, DOGE's price has fallen by about 20% in the last seven days, 13% in a month's time, and 93% in a year. Aside from the bullish trend in the cryptocurrency market after Bitcoin (BTC) rebounded to the $68,000 region, the current US political climate and Elon Musk's actions largely contributed to Dogecoin's rise earlier this week .

Incumbent President Joe Biden is Withdrawing from the 2024 Presidential Race

X users were enlightened yesterday with the news of US President Joe Biden's official statement that he will withdraw from the 2024 presidential race. The statement of the President of the United States of America (POTUS) came with an official letter and a post from the The first decision I made as the party's nominee in 2020 was to choose Kamala Harris as my Vice President. And this is the best ever… pic.twitter.com/x8DnvuImJV

In the process, he nominated Vice President (VP) Kamala Harris to replace him under the umbrella of the Democratic Party. The US Vice President has not yet officially accepted his candidacy, but the Democrats are already warming up with the developments.

Elon Musk Has Laser Eyes in his X Profile

Musk responded to the news by changing his X profile photo as the most popular supporter of Dogecoin. In the image, the social media platform owner was featured with blue laser eyes against a red background and the American flag.

The crypto community often uses laser eyes to indicate support for Bitcoin and altcoins. The trend can also indicate a bullish trend on the market. It's worth noting that Biden's The laser-eyed “Dark Brandon” has not gained much traction among crypto supporters due to the management's known oppositional attitude towards crypto projects and companies.

As expected, Musk's latest move is more with his favorite crypto DOGE, which has seen a huge price movement in the last few hours. echoed. But that doesn't mean he's showing support for Harris, as the American entrepreneur has been a strong supporter of Trump and has recently been a vocal critic of the Vice President.

Imagine this for 4 years… https://t://gFwWAv15Qx

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