DOGE Surges 8% as SpaceX IPO Sparks Elon Musk Wealth Milestone

On June 12, 2026, Dogecoin (DOGE) surged 8% after SpaceX's initial public offering (IPO) sent shockwaves through the crypto market. Elon Musk's historic wealth milestone also contributed to the rally.

The IPO saw SpaceX open at $150 and rally towards $176 before settling near $161, pushing its valuation above $2.1 trillion. This, in turn, lifted Elon Musk's net worth beyond $1 trillion, making him a trillionaire for the first time in history.

As the news spread quickly across both equities and digital assets, liquidity rotated into high-beta assets. Bitcoin rebounded above $64,000 during the same session, with several altcoins recovering part of their recent losses.

Dogecoin stood out among meme tokens during this rebound, closely tied to Musk-related developments and public sentiment shifts. The four-hour chart showed DOGE breaking above a descending trendline that had previously capped upside moves for more than a week.