Elon Musk's proposal to create a "Department of Efficiency" with the ticker symbol "DOGE" has sent the cryptocurrency soaring. According to Coindesk, DOGE is trading at $0.1272, up 8.99%. Musk's proposal to former US President Donald Trump's camp sparked excitement among Dogecoin enthusiasts, who see it as a sign of growing mainstream acceptance. The cryptocurrency has been gaining traction in recent months, thanks in part to Musk's playful tweets. However, it's important to note that Dogecoin is a highly volatile asset and investors should proceed with caution.

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