- Elon Musk’s promotion of Dogecoin during Donald Trump’s presidential campaign rallies has boosted the prices of meme coins, with Dogecoin leading the charge by climbing nearly 20% over the past week and 33% over the past month.
- Other Musk-inspired tokens like Dogelon Mars (ELON) and a Solana meme coin called Toad (TOAD) also saw significant price spikes, with TOAD surging by 10,000% at one point after Musk followed its Twitter account.
- In addition to Dogecoin and Musk-related tokens, other major meme coins like Shiba Inu (SHIB), Mog Coin (MOG), and Popcat (POPCAT) have also rallie
Elon Musk has inspired multiple meme coins to surge in price as he continues touring the U.S. with Donald Trump‘s presidential campaign. This includes Dogecoin reaching a five-month high and a micro-cap Solana token spiking 10,000% after Musk followed its Twitter account. Overall, Musk-inspired tokens are among the top performers as the tech billionaire drums up excitement in the meme coin market.
Dogecoin Hits Five-Month High
Dogecoin, the original meme coin that Musk has long promoted, hit its highest price since June this week. It reached nearly $0.16 on Monday, marking a five-month peak. While down slightly from that high, DOGE remains up almost 12% on the day to around $0.157. This makes it the biggest gainer among the top 100 cryptocurrencies.
Musk’s Endorsement Spikes Micro-Cap Token
On Monday, Musk followed the Twitter account of Solana meme coin Toad (TOAD) when it had a tiny market cap of just $56,000. As a result, the Pumpfun token surged an astounding 10,000% to nearly $6 million before falling to $438,000. Despite the drop, Toad still trades far higher than before Musk’s endorsement.
Other Meme Coins Join the Rally
Beyond Dogecoin and Toad, other top meme coins have also risen amid the hype around Musk. For example, Maga Hat (MAGA) has soared 19%, HarryPotterObamaSonic10Inu (BITCOIN) is up 14%, Mog Coin (MOG) has climbed 15%, and Popcat (POPCAT) has increased 14%. Even the largest meme token, Shiba Inu (SHIB), has posted a 9% gain.
Conclusion
The meme coin market continues benefiting from Elon Musk’s ongoing tour with Donald Trump. His promotion of Dogecoin and smaller tokens is inspiring double-digit rallies. For now, traders are betting these gains will continue as long as Musk keeps meme coins in the spotlight.
