Dogecoin (DOGE) has entered a new era of relevance, with its meme-inspired roots intersecting politics after President-elect Donald Trump announced the creation of the Department of Government Efficiency (DOGE) on Tuesday. The cryptocurrency, already up over 500% in recent weeks, surged further following the news.
The newly proposed department, aimed at cutting government waste and streamlining federal operations, will be led by Elon Musk and entrepreneur Vivek Ramaswamy. Trump hailed the duo as “visionary thinkers who will bring bold ideas and transformative leadership to reimagine our federal systems.”
“This is not business as usual,” Trump stated on Truth Social. “Elon and Vivek will spearhead efforts to slash bureaucracy, optimize government spending, and introduce private-sector innovation to public service.”
Musk celebrated the announcement with a tweet on X: “Finally, a department worth its acronym! Transparency will be at the heart of DOGE’s operations—we’ll share every decision and every dollar saved with the American people.”
DOGE, the cryptocurrency named after the internet’s favorite Shiba Inu, has seen massive inflows as traders rally around the symbolic alignment of Trump’s initiative and the digital asset. Its price has surged 250% over the past month, hitting levels not seen since 2021. Analysts now speculate that the $1 mark could be an attainable milestone.
“DOGE has transcended its meme origins,” said a CoinDesk analyst. “The cultural and political intersection is driving speculative interest like never before.”
What started as a playful cryptocurrency now carries an air of significance, as its name becomes linked to a political agenda to overhaul federal governance. The world will be watching as DOGE—both the coin and the department—set out to redefine expectations.
