Elon Musk announced his ambitious plan: Crypto prices rallied

Dogecoin (DOGE $0.1422) has outperformed most of its top-ranking crypto rivals following the mention of its official ticker at the recent Donald Trump rally in New York, News.Az reports citing FxStreet.

D.O.G.E. pumps DOGE price

Dogecoin price has rallied by approximately 7% in the last 24 hours to reach $0.145 on Oct. 28.

The gains came after billionaire entrepreneur Elon Musk announced his ambitious plan to save American taxpayers $2 trillion through the "Department of Government Efficiency"—a concept he devised to streamline government operations, cut waste, and reduce costs.

Notably, the initiative's initials, D.O.G.E., align with the ticker of Musk’s “favorite cryptocurrency” Dogecoin. That has triggered buying sentiment in the Dogecoin market, reminiscent of a similar rally triggered by Musk's mention of D.O.G.E. back on Oct. 15.

News.Az