Dogecoin has recently surged to a three-year high, reaching $0.48 on November 23, 2024. This surge is largely driven by growing excitement surrounding Elon Musk’s X platform. Market participants speculate that Musk’s influence could continue to propel Dogecoin’s value. However, the price is showing signs of retreat as it aligns with trends among Bitcoin and other meme coins. Traders are analyzing this movement closely to determine future price action. The implication of these fluctuations on Dogecoin’s overall market dynamics is significant, as it remains a public favorite in the crypto landscape. Investors should monitor these developments as they could provide clues to future performance.