Dogecoin Surges 8% as Elon Musk Becomes World's First Trillionaire

The price of Dogecoin (DOGE) surged by 8% on June 12, reaching an intraday high of $0.091 after Elon Musk became the world's first trillionaire following SpaceX's IPO.

SpaceX debuted on U.S. exchanges at $150 per share, pushing its valuation above $2.1 trillion and making Elon Musk the owner of a net worth that surpassed $1 trillion.

The crypto market reacted positively to the news, with Bitcoin climbing back above $64,000 after recent weakness.

Dogecoin has historically responded well to Musk-related news, given his long-running public support for the token.