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Dogecoin, Shiba Inu, and a host of other memecoins are seeing a strong rally today, primarily driven by a headline-making announcement from billionaire Elon Musk — along with several supporting factors.

After a surge in demand for utility-based tokens in late 2024, the memecoin market fell into a slump. Nearly $44 billion in market cap evaporated in just three weeks. However, interest is now returning, with DOGE, SHIB, and other meme-themed tokens seeing significant gains.

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Good night 254 $degen