The post Is DOGE Now the Department Of Government Efficiency? Elon Musk Might Have Just Hinted at It! appeared first on Coinpedia Fintech News
Elon Musk, the billionaire founder of Tesla and SpaceX, has long been a supporter of Dogecoin, a meme-based cryptocurrency. His frequent promotion of Dogecoin has often led to price surges. Recently, Musk has expressed interest in leading a potential âDepartment of Government Efficiencyâ (D.O.G.E) under former President Donald Trumpâs administration, should Trump be re-elected.
Trumpâs Plan for D.O.G.E
In August, Musk shared an AI-generated image of himself with the label âD.O.G.E.â and the words âDepartment of Government Efficiency.â He captioned the image with, âI am willing to serve,â indicating his openness to the role.Â
I am willing to serve pic.twitter.com/BJhGbcA2e0
â Elon Musk (@elonmusk) August 20, 2024
Following this, former President Trump announced plans to create a government efficiency commission, led by Musk, to audit the federal government if he returns to office.
This department would be responsible for conducting audits on government performance and finances, aiming to improve overall efficiency. Trump said that Muskâs involvement would bring a major shake-up in how the federal government operates.
Muskâs Reaction to Trumpâs Offer
Musk responded to Trumpâs offer through a meme on his X account, hinting at the possibility of heading this new department if Trump wins the 2024 election.Â
Department of Government Efficiency pic.twitter.com/HFeHYNIkJN
â Elon Musk (@elonmusk) September 7, 2024
The meme featured Musk sitting behind a desk with a placard labeled âD.O.G.E,â cleverly referencing both Dogecoin and the proposed government department. The meme not only sparked excitement but also had an impact on Dogecoin itself.
Dogecoinâs Potential Price Surge
After Muskâs post, Dogecoin saw a surge in its price, increasing by 1.95% over the past week. After recovering from a decline, the cryptocurrency has risen by 6.76% since the start of the week and now currently trading at $0.10.Â
If the bullish pattern continues, Dogecoin could see a significant price increase, potentially reaching $0.15, which would represent a 50% gain from its current value.
Meanwhile, this isnât the first time Muskâs comments have impacted the coin, but the connection between Dogecoin and his potential government role is now making waves