Memecoins are rallying, with Dogecoin (DOGE) up 10.3%, Shiba Inu (SHIB) gaining 5.5%, and Pepe (PEPE) rising 5.7% in the past 24 hours. The Official Trump (TRUMP) token surged 20.6%, while Bonk (BONK) climbed 11.7%. Overall, the memecoin market is seeing renewed momentum, with trading volumes soaring past $9.38 billion in the last 24 hours.

As Musk's government cost-cutting push dominates headlines, Doge lovers have mixed emotions about its close affiliation with the meme world’s top dog.

Voters are open, narrowly, to an effort to tackle inefficiencies in government. But they are concerned about billionaire Elon Musk and how his Department of Government Efficiency is executing those cuts,

Within the last 48 hours, miners have unloaded above 65 million DOGE, adding to the selling pressure on the DOGE amidst the ongoing market volatility.