#Doge
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Dogecoin (DOGE) has gained by 5.86% in the last 24 hours to trade at $0.173 today, July 7, as speculation surges about whether Elon Muskโs America Party is going to endorse DOGE token. Dogecoin historically had rallied on Elonโs endorsements and he has already confirmed his new party will embrace Bitcoin. So, DOGE might be next in line and its a question of debate how high will such an update boost DOGE price?
Following the disagreement between Musk and President Donald Trump about the recently passed Big Beautiful bill, Musk has launched a new political party that he has named the America Party. While making an effort to explain how this new party is going to function, he hinted that it was going to endorse crypto assets.
Musk was responding to a user who asked whether the party was going to accept Bitcoin, to which he said that the fiat system was โhopeless.โ
Another user asked Musk about whether Dogecoin will also have a presence in this new party, but Musk did not respond to the query. However, he later retweeted a post by DOGE co-founder Shibetoshi Nakamoto endorsing the new America Party and the benefits it will deliver to US voters.
Earlier, today, the billionaire confirmed that his party will embrace Bitcoin and that he believes fiat currency is hopeless. His post has led to wild speculations that DOGE considering his past interest will next after Bitcoin.
Historically Dogecoin price has often reacted positively to endorsements by Musk, as such moves tend to increase retail interest from traders who are looking to make quick profits. If the America Party endorses DOGE , the price will likely confirm the weekly double-bottom pattern that may trigger a 2x rally within a short time.