#US President-elect #donaldtrump has chosen Tesla CEO Elon Musk and Strive Enterprises co-founder Vivek Ramaswamy to head the Department of Government Efficiency ($DOGE ).

Trump said in his statement, "Together with these two great Americans, we will tear down government bureaucracy, reduce unnecessary regulations, cut wasteful spending, and restructure federal agencies." Donald Trump stated that this new budget to be established has good intentions for structural reforms and will adopt an unprecedented "entrepreneurial approach" in cooperation with the White House and the Office of Budget and Management.

Dogecoin (DOGE) effect in US presidential elections

Previously, Musk spent dollars worldwide in support of Trump's re-election campaign in November and appeared at some rallies. Musk has long been known as a Dogecoin supporter and the extension of the new portfolio, "DOGE", is the same as Dogecoin's approval code (abbreviation).

Following Trump’s election victory, Musk played an important role by actively participating in determining the new administration’s staff. ABC News reported on Musk’s contributions on Tuesday.

American entrepreneur Ramaswamy had previously competed with Trump for the Republican Party’s presidential candidacy but later supported Trump.

Ramaswamy shared the news on the X platform and wrote the message, “We will go quietly.” Musk shared a post saying, “Threat to democracy? No, a threat to bureaucracy!” On the other hand, Democratic Senator Elizabeth Warren, known for her distant approach to cryptocurrencies, made a critical comment on this appointment and used the following statements on X:

Meanwhile, the price of Dogecoin has increased by 12.2 percent in the last 24 years to 0.406. There was a 136 percent increase in value in the last week of the US presidential election calendar. According to CoinMarketCap, Dogecoin’s market value has now reached 60 billion.

#DOGEUSDT #DogecoinPriceSurge #TrumpNominatesMuskDOGE