Elon Musk-backed Dogecoin rallies 25%, fueled by Trump's election lead

Dogecoin surged 25% on Wednesday, reaching $0.2068, as traders speculated on a potential Donald Trump victory in the U.S. presidential race. The rally was fueled by Trump's pro-crypto stance and Elon Musk's vocal support for both Trump and Dogecoin. Analysts believe a Trump win could positively impact the crypto community, particularly following his proposal to establish the Department of Government Efficiency (D.O.G.E.), which Musk would lead if elected.