How Elon Musk Will Drive DOGE Price Up With His Appointment as Head of the Department of Government Efficiency (DOGE)

The price of Dogecoin (DOGE) has been on a tear in recent days, especially after President-elect Donald Trump announced the creation of the Department of Government Efficiency, abbreviated as DOGE, with Elon Musk at the helm. Following the announcement on November 12, the price of Dogecoin increased by nearly 20% and has continued its 153% rally since the US presidential election, trading above $0.43 on November 14.

Elon Musk is not only a prominent Dogecoin supporter but also known as the "Dogefather". His statements and actions have always had a great influence on the value of Dogecoin, causing the value of this currency to fluctuate frequently. In the past, the price of Dogecoin has reached a record high of $0.67 thanks to Musk's prominence on social media. However, it is still difficult to predict how high DOGE's future value will be when Musk holds a position of power in this ministry, due to the volatility of the cryptocurrency market, which is influenced by many different factors.