Dogecoin had an impressive rally earlier this month amid Elon Musk’s indirect endorsement of the asset through his mention of D.O.G.E (the Department of Government Efficiency). This caused the price of DOGE to surge over 100% to $0.4359.

However, like other major crypto assets, Dogecoin’s price plunged shortly after, dropping below the $0.4 mark and falling to around $0.35. Following this decline, some critics suggested that the token would not experience another price surge.

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