Elon Musk's U.S. Department of Government Efficiency Launches Doge.gov with Dogecoin Logo, Causing 14% Spike

Jan 21, 2025, 01:13 PM

The U.S. Department of Government Efficiency (DOGE), led by Elon Musk, has launched its official website, featuring the Dogecoin logo. The website, accessible at doge.gov, was registered in Los Angeles by an employee of the U.S. Cybersecurity and Infrastructure Security Agency. The launch of the website has coincided with a 14% spike in the value of Dogecoin, bringing its market cap to $58 billion. The site currently displays a black background with the Dogecoin logo prominently featured, alongside a message stating it is an official website of the United States government and that the people voted for major reform. Dogecoin's price initially spiked to $0.396 but later retraced to $0.3782. The Department of Government Efficiency, which shares its acronym with the Dogecoin ticker, was established by Donald Trump and aims to streamline government operations with an entrepreneurial approach. This development follows the departure of Vivek Ramaswamy, who stepped down to pursue a bid for governor of Ohio. Additionally, DOGE faces a lawsuit alleging it operates illegally as a federal advisory committee.