A new Elon Musk referencing meme coin piggybacking on Dogecoin’s $DOGE ticker has pumped 14X after its meme went viral.
The coin in question is a new pro-Trump pro-Musk meme coin called Department of Government Efficiency (which has the handy ticker of $D.O.G.E).
In a speech last Thursday, Elon said: “I will create a government efficiency commission tasked with conducting a complete financial and performance audit of the entire federal government.”
The growing conversation around the proposed Musk/Trump government efficiency collaboration has put $D.O.G.E on meme coin fans’ radars because separately, both Trump and Elon Musk are good fodder for meme coins.
Notably, however, the D.O.G.E. price has since been selling off from its recent peak, now approaching a local support level.
Trump has released NFTs and has several cryptocurrencies paying homage to him, while popular meme coin $FLOKI is named after Elon Musk’s dog, a Shiba Inu.
Musk is a long-time fan of the breed, which became viral after the Doge meme and, subsequently, Dogecoin took off.
Meanwhile, $DOGE itself is having a good day.
It’s one of few cryptocurrencies posting green candles both over the last 24 hours and over the last seven days. Dogecoin is up 3.1% overnight and 4.6% over the week to trade at $0.1019 as of this writing.
Could Shiba Shootout Overtake Dogecoin? The Next Big Meme Coin to Watch
The $15 billion market cap Dogecoin appears to be the meme coin sector’s equivalent of “too big to fail”. Back in crypto’s opulent 2021, a tweet from Elon Musk could send the price skyrocketing.
Nowadays $DOGE is broadly fated to track and exaggerate the price movements of Bitcoin and Ethereum, which together serve as a litmus test for consumer sentiment around crypto.
Some of the more enticing investments in Web3 are still only in presale. It’s here that investors diversify their portfolios with discreet allocations, some of which could generate 1000X returns.
One Shiba Inu-themed coin that has the potential to make all useless meme coins obsolete this year is Shiba Shootout.
Shiba Shootout ($SHIBASHOOT) is a new Wild-West-style meme coin project that blasts much-needed vitality and utility into the well-worn doge theme, something which the Elon Musk $D.O.G.E doesn’t do.
Early watchers say the token has what it takes to succeed.
At the heart of the gamification element lies the town of Shiba Gulch, a bustling Web3 settlement where the Shiba Shootout community gathers to undertake meme-making duels, crypto poker tournaments, and exhilarating virtual treasure hunts.
The strong social element combines with a unique multiple opportunities for players to generate rewards.
Some of the announced features include Shiba Shootout’s Posse Rewards referral program, Lucky Lasso Lotteries, Savings Saddlebags and Cactus Staking.
This immersive, engaging and addictive Web3 social experience has more 1000x potential than Elon Musk coins like Dogecoin and Department of Government Efficiency.
Pick it up at a fixed presale price of $0.0202 per token. Investors can purchase $SHIBASHOOT with ETH, BNB and USDT, or they can pay by credit or debit card.
Follow Shiba Shootout for updates on X and Telegram.
Read more and join the presale over on the official website
The post New DOGE Copycat Coin Pumps 14X After Elon Musk Mention – Will It Keep Rising? appeared first on Cryptonews.
