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Maximilian Brichta, Doctoral Student of Communication, University of Southern California

Dogecoin is a joke − so what’s behind its rally?

In the week after the 2024 presidential election, the coin's value jumped 250%. Jakub Porzycki/NurPhoto via Getty Images

Rockets aren’t the only thing Elon Musk is sending into the stratosphere.

After a three-year plummet, dogecoin is blasting off again, jumping 250% since the election of Donald Trump – part of a broader wave of optimism in the industry, due to Trump’s courting of crypto advocates during his campaign.

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