DOGE Market Cap Surpasses Porsche, Surges Over 175% in the Past Month

BlockBeats News, November 27th, according to Cointelegraph, driven by Musk's continuous endorsement and the expected launch of the first DOGE ETP product, Dogecoin's market cap reached $57.8 billion, surpassing the $56.1 billion market cap of the car manufacturer Porsche. Musk's recent involvement in creating the Department of Government Efficiency (DOGE) further fueled retail investors' interest in Dogecoin. DOGE has risen by over 395% in the past year, with a gain of over 175% in the past month.

In earlier news, DeFi Technologies' subsidiary Valour announced the launch of the first DOGE ETP. Johanna Belitz, head of the Nordic region, stated that this move was based on the U.S. election results and the surge in Dogecoin demand due to the Musk effect.