Musk posts Dogecoin picture to promote Trump, no effect on crypto

Musk’s Dogecoin post: Billionaire entrepreneur Elon Musk once again me waves on social media by sharing an image on his official X (formerly Twitter) account, linking Dogecoin (DOGE) with Presidential candidate Donald Trump. image, titled "D.O.G.E." with subtext "Department of Government Efficiency," features both Musk and Trump wearing dark sunglasses, posing in front of US flag and White House. A Shiba Inu, breed associated with Dogecoin meme, is also featured in graphic.

This tweet marks anor instance where Musk has used his platform to highlight cryptocurrency Dogecoin. Known for his previous influence on cryptocurrency's price movements, Musk's comments and actions related to Dogecoin have often led to spikes or dips in its value. 

However, despite this latest post, Dogecoin has shown no significant movement in its value following tweet. At time of writing, meme-based cryptocurrency has declined by 1.8 per cent in last 24 hours. 

Whereas, crypto token has surged as much as 21.60 per cent over last 30 days with nearly 16 per cent gains in last seven days only. For last one year, token has given over 100 per cent returns to its investors. 

Musk has been a vocal supporter of Dogecoin and often references cryptocurrency in jest, frequently calling it "people’s crypto." As of now, neir Musk nor Trump has provided furr clarification on meaning behind image.