Dogecoin's price has surged on U.S. Election Day, gaining 10% and peaking at over $0.177. This rise is tied to Elon Musk's vocal support for Donald Trump, who is running for a second term and has promised to appoint Musk to lead a government efficiency commission, potentially named the Department of Governmental Efficiency (D.O.G.E.). The coin's performance outpaces other cryptocurrencies, with its market cap placing it as the eighth-largest digital asset. The influence of Musk, who previously drove Dogecoin's popularity through social media, continues to impact its value significantly. As the election unfolds, Dogecoin remains at the center of attention within the crypto community, with traders reacting to Musk’s comments and plans regarding the future administration's crypto policies.

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