While the broader Cryptocurrency market has entered a period of significant consolidation, meme token Dogecoin has made a strong surge since Elon Musk dubbed it the "People's Cryptocurrency." Musk recently responded to a tweet by saying, "Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren't financial experts or Silicon Valley technologists. That's why I decided to support Doge – it felt like the people's crypto."