Trump Rally

Donald Trump

Elon Musk

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>DOGE and other memecoins recorded price surges following yesterday’s Trump rally.</li> 
 <li>Elon Musk was introduced as the co-founder of the Department of Government Efficiency.</li> 
</ul> 
<p>Despite the drop of around 15% in the memecoin sector, some memecoins recorded price surges today.</p> 
<p>Data from CoinGecko shows a significant drop in top memecoins’ market cap, but some dog and cat-related coins experienced important price spikes.</p> 
<h2 id="some-memecoins-surge-following-musk-s-speech-in-nyc">Some Memecoins Surge Following Musk’s Speech in NYC</h2> 
<p>For instance, DOGE surged by almost 4% today, while SHIB saw a price surge of 0.5%. WIF surged by almost 2%, and the cat-themed memecoin POPCAT recorded a 5.6% price rise.</p> 
<p>BONK and FLOKI prices also spiked by 0.2% and 1.4% respectively, while NEIRO CTO (also known as First Neiro on Ethereum) surged by 7% today. BABYDOGE also saw a price surge of 2.6%, according to data from CoinGecko.</p> 
<figure id="attachment_52362" aria-describedby="caption-attachment-52362" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1.jpg"><img loading="lazy" decoding="async" class="wp-image-52362 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1.jpg" alt="CoinGecko data" width="1607" height="1681" title="DOGE Price Is Up by Over 3%, Following Musk's Appearance at Trump Rally 24" srcset="https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1.jpg 1607w, https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1-287x300.jpg 287w, https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1-979x1024.jpg 979w, https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1-768x803.jpg 768w, https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1-1468x1536.jpg 1468w, https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1-750x785.jpg 750w, https://crypto.ro/en/wp-content/uploads/2024/10/photo_5834968339158516950_w-1-1140x1192.jpg 1140w" sizes="(max-width: 1607px) 100vw, 1607px"></a>
 <figcaption id="caption-attachment-52362" class="wp-caption-text">
  CoinGecko data
 </figcaption>
</figure> 
<p>Neiro on Ethereum recorded a more significant price surge of over 48%, and PURR, another cat-themed memecoin, surged by 16% today.</p> 
<p>While these tokens saw price rises, some memecoins recorded important price drops. DOLAN’s price dropped by 17%,&nbsp; KLAUS by over 9%, and CAT by 20%.</p> 
<p>Some Trump-based coins also saw important price surges, including TRUMP which surged by 19%.</p> 
<p>DOGE’s price surge, along with other dog-themed memecoins, was probably triggered once again by Elon Musk.</p> 
<h2 id="musk-takes-the-stage-at-trump-rally">Musk Takes the Stage At Trump Rally</h2> 
<p>Yesterday, at a Donald Trump Rally in New York, at one point, Elon Musk was <a href="https://x.com/wallstreetbets/status/1850678070048612709" rel="nofollow" target="_blank">introduced</a> as the co-founder of Department of Government Efficiency (DOGE).</p> 
<p>Key <a href="https://x.com/elonmusk/status/1850731926321090777" rel="nofollow" target="_blank">messages</a> from Musk’s speech included:</p> 
<ul> 
 <li>People to vote early</li> 
 <li>Encourage friends, family, and others to vote</li> 
</ul> 
<p>Musk also said that he’d save the US $2 trillion in tax spending through the Department of Government Efficiency, according to <a href="https://www.businessinsider.com/donald-trump-rally-elon-musk-save-department-government-efficiency-2024-10" rel="nofollow noopener" target="_blank">Business Insider</a>.</p> 
<p>This is a reference to the August Musk-Trump interview that took place on X spaces during which the former US President committed to Musk that he would create a Government Efficiency Commission led by him to cut the costs and size of the Federal Government spending.</p> 
<p>This is not the first time when DOGE is mentioned during a Trump rally and the DOGE memecoin sees price surges. On October 18, DOGE <a href="https://crypto.ro/en/news/doge-price-surges-by-10-following-musks-comment-in-pennsylvania/">surged</a> by 10% following other Musk comments in Pennsylvania.</p>

DOGE Price Is Up by Over 3%, Following Musk’s Appearance at Trump Rally

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