Dogecoin surged over 25% in just 24 hours, continuing a strong weekly run fueled by renewed endorsements from Elon Musk amidst Donald Trump's presidential election victory. Following Trump’s favorable odds, the cryptocurrency has gained over 65% in the past month, marking it as the best-performing major crypto asset. Musk's proposal of a 'Department of Government Efficiency' (D.O.G.E) is seen as a potential government agency aimed at enhancing spending and monetary planning, aligning closely with the Dogecoin narrative. Trading has intensified, as evidenced by over $30 million in short liquidations and significant open interest in DOGE futures. The bullish sentiment is not limited to DOGE, as dog-themed tokens like shiba inu and floki have also seen gains exceeding 10%. Traders anticipate further increases in DOGE prices, attributed to the influence of Musk and Trump's victory, which is perceived as favorable for the cryptocurrency market. Analysts predict the media attention on Musk's role could catalyze even more growth in Dogecoin and its derivatives in the future.

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