Elon Musk is back in the Trump administration, and Dogecoin (CRYPTO: DOGE) traders are eyeing another 10% jump like the one that followed his last appointment.
Why Musk’s Return Is Back in Focus
MITRE, a nonprofit that runs federally funded research centers for the U.S. government, announced that Elon Musk is co-director of Project Meridian, a Pentagon project that studies future warfare.
Widely-followed crypto analyst Ali Martinez said Monday that the role marks Musk’s “return” to an official advisory position in the Trump administration, which he left last year when he exited the Department of Government Efficiency.
As Benzinga reported, Tesla (NASDAQ:TSLA) has gained about 8% and SpaceX (NASDAQ:SPCX) about 15% since the appointment.
How Dogecoin Reacted to Past Musk Moves
| Date | Event | DOGE reaction |
| Nov. 12, 2024 | Trump names Musk and Vivek Ramaswamy to lead DOGE | Up about 10% |
| Jan. 21, 2025 | DOGE government website shows the Dogecoin logo | Up about 11% |
| May 29, 2025 | Musk announces his departure | Down more than 7% |
| June 6, 2025 | Trump and Musk feud publicly | Down 12.5% in 24 hours |
Broader market moves also shaped the losses, since Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) also fell when Musk left in May 2025.
Can the Trade Repeat?
Last time, the government effort carried the DOGE name, which tied the coin directly to the story.
Project Meridian has no link to Dogecoin, so any rally this time would rest on investor sentiment alone.
Where Dogecoin Stands Technically
Dogecoin trades just above a cluster of moving averages after a strong September rally.
The 20-day EMA at $0.0931 and the 200-day EMA at $0.0933 sit directly below price. RSI at 58.42 shows moderate momentum with room to build.
Key levels for DOGE:
- $0.10: resistance above, a push through targets fresh highs
- $0.086: 100-day EMA, deeper support
Photo via Shutterstock