Dogecoin Surges 11% as Musk’s New Government Agency Features Crypto’s Mascot

Dogecoin Price Jumps 11% After Musk's DOGE Government Website Launch

  • Dogecoin price increased 11% following the launch of Musk’s government efficiency website.
  • The Department of Government Efficiency (DOGE) website features the Dogecoin mascot.
  • This initiative represents Musk’s latest involvement with the cryptocurrency.
  • The agency aims to reduce government spending and simplify regulations.
  • The website launch occurred on January 21, 2024.

Dogecoin Surges on Government Connection

The meme-inspired cryptocurrency Dogecoin (DOGE) experienced an 11% price increase after Elon Musk‘s newly established Department of Government Efficiency launched its official website featuring the cryptocurrency’s iconic Shiba Inu mascot.

- Advertisement -

Government Initiative Meets Cryptocurrency

The Department of Government Efficiency, sharing the same acronym DOGE with the cryptocurrency, represents a federal initiative led by Musk to streamline government operations and reduce expenditure.

The website, launched at doge.gov, prominently displays the familiar Dogecoin dog logo, creating an unexpected connection between federal administration and cryptocurrency culture.

The official website of the Department of Government Efficiency, doge.gov
The official website of the Department of Government Efficiency, doge.gov

Musk-Dogecoin Relations

This is not the first time Musk’s actions have influenced Dogecoin’s market performance.

Since 2021, his social media posts and public statements about the cryptocurrency have frequently corresponded with significant price movements.

Dogecoin, created in 2013 as a satirical response to Bitcoin, has maintained its position among the top 10 cryptocurrencies by market capitalization despite its humorous origins.

The cryptocurrency’s price movements highlight the continuing impact of public figures and institutional adoption on digital asset valuations.

- Advertisement -

Market analysts note that while such endorsements can create short-term price volatility, long-term value depends on broader adoption and utility.

✅ Follow BITNEWSBOT on Facebook, LinkedIn, X.com, and Google News for instant updates.

Consider a small donation to support our journalism

Previous Articles:

- Advertisement -

Latest News

Coinbase to Launch US-Regulated Bitcoin, Ether Perpetual Futures

Coinbase will launch U.S.-regulated perpetual-style futures for Bitcoin and Ether on July 21.The move...

Fannie Mae, Freddie Mac Now Accept Crypto Assets for Mortgages

Fannie Mae and Freddie Mac will now recognize Bitcoin and other cryptocurrencies as reserves...

AI-Powered Blockchain Activity Soars 86%, Nears Gaming Market Share

Blockchain-based Artificial Intelligence activity has grown by 86% since the beginning of 2025, according...

Maine Attorney General Recovers Thousands in Crypto Scam Case

The Maine Attorney General's Office has recovered thousands of dollars for a victim of...

Coinbase Shares Hit Highest Level Since 2021 Nasdaq Debut

Coinbase stock reached its highest price since its 2021 listing, nearly returning to debut...

Must Read

8 Best Crypto Debit Cards For Spending Your Digital Tokens

What are | How we chose | Best crypto debit cards | Binance Card? | FAQ | Final WordsCrypto debit cards have transformed how...