The largest memecoin, Dogecoin 
$0.371645 (DOGE), experienced a surge in value following its logo’s appearance on the website of the newly announced Department of Government Efficiency (D.O.G.E), led by Elon Musk and unveiled by Donald Trump. In just a few minutes after the announcement, DOGE’s price jumped by 15%, rising from $0.345 to $0.4.
Dogecoin Price Sees Sudden Spike
The cryptocurrency market shows signs of recovery following a period of decline, driven by positive news from the U.S. The newly established D.O.G.E drew attention by displaying Dogecoin’s logo on its official website, which coincided with a significant price increase for DOGE, reaching its highest level in two days.
The announcement of this new department during Trump’s presidential campaign, which supports cryptocurrencies and is directly linked to Dogecoin, has created a buzz within the crypto community. Elon Musk, who leads the project, recently made the official announcement at Trump’s presidential inauguration, while Vivek Ramaswamy decided to step back to focus on his gubernatorial ambitions in Ohio.
Creating Excitement in the Crypto World
The Dogecoin community welcomed this news with great enthusiasm, especially given Musk’s historical interest in memecoins, which has further heightened D.O.G.E’s popularity. Although there has been no logo change on the department’s social media accounts yet, the presence of the Dogecoin logo on its website has significantly impacted price movements in the crypto market.
As the transition period unfolds, there is anticipation regarding the ongoing impact of such developments on Dogecoin. Analysts suggest that as more details about D.O.G.E are revealed, DOGE’s price volatility may increase. It is well-known that such developments directly affect investor psychology in the cryptocurrency market, and Dogecoin is expected to test new resistance levels.
