DOGE Token Surges 5.53% as Elon Musk’s America Party Announcement Fuels Market Momentum

In the past 24 hours, DOGEUSDT experienced a notable price increase of 5.53%, rising from 0.16414 to 0.17322 USDT according to Binance data. This volatility appears to be primarily driven by heightened social media attention following Elon Musk's announcement of the America Party, which has historically influenced Dogecoin sentiment and trading activity. Despite the absence of new protocol updates or partnerships, investor confidence remains strong, as evidenced by significant open interest and continued accumulation of DOGE. Technical analysis indicates that Dogecoin is maintaining support above the $0.16 level, with both bullish and bearish signals present in the market. Currently, Dogecoin is trading at 0.17322 USDT with a circulating supply of approximately 150 billion DOGE and a market capitalization near $25 billion, ranking it among the top cryptocurrencies by market cap. Trading volume has shown significant fluctuations, reflecting active participation and ongoing market interest.