D.O.G.E Price Skyrockets 75.17% As Elon Musk & Vivek Get Leadership Role Under Trump

In a significant development President Trump, who is presently United States President, appoints Elon Musk and Vivek Ramaswamy, to head the new department called “Department of Government Efficiency” (D.O.G.E). 

It aims to focus solely on improvised growth and development strategies in the Trump Administration’s second term. This new appointment sent shock waves across the political and cryptocurrency world as D.O.G.E. would crossover and dominate the two sectors. 

The announcement triggered an immediate and dramatic response in the cryptocurrency market, with the DOGE token experiencing a remarkable 75.17% price surge. 

The market reaction has been particularly noteworthy, as the token had already demonstrated impressive growth in the month leading up to the election, posting a staggering 2,966.52% increase during that period.

Current Market Performance and Valuations

The Department Of Government Efficiency (DOGE) token has shown exceptional market performance following the announcement. 

Currently trading at $0.3639, the token has recorded a substantial 24-hour trading volume of $75,171,784, representing a 78.42% increase within the last 24 hours and an impressive 381.93% gain over the past week. 

With a circulating supply of 1 billion DOGE tokens, the project has achieved a market capitalization of $352,176,496, reflecting strong investor confidence in the initiative’s potential impact on government reform and efficiency.

Also Read: Dogecoin Records Massive 138% Weekly Rally, $1 Target Next?

Strategic Vision and Department Structure

The newly announced department’s mandate, as outlined by Trump, focuses on dismantling government bureaucracy, reducing excessive regulations, cutting wasteful expenditures, and restructuring federal agencies. 

The appointment of Musk and Ramaswamy, both known for their entrepreneurial success and advocacy for government reform, signals a bold approach to achieving these objectives. 

Trump’s statement emphasized that the department would “provide advice and guidance from outside of Government,” though questions remain about potential conflicts of interest, particularly regarding Musk’s existing government contracts through Tesla and SpaceX. 

The department’s operations are scheduled to conclude by July 4, 2026, symbolically timing its completion with America’s 250th Independence Day anniversary.

Implementation Plans and Key Initiatives

The department’s operational framework includes several ambitious crypto initiatives proposed by both appointees. 

Musk has pledged to implement a transparent system where all departmental actions will be posted online, including a “leaderboard” tracking government spending inefficiencies. 

Ramaswamy, who previously advocated for eliminating several federal agencies during his presidential campaign, brings his experience in developing legal frameworks for agency restructuring. 

The department’s first priority, as outlined in Trump’s September announcement, will be developing an action plan to eliminate fraud and improper payments within six months, with projected savings in the trillions of dollars. 

Both leaders have expressed strong commitment to their roles, with Musk stating the initiative will “send shockwaves through the system,” and Ramaswamy maintaining his characteristic “SHUT IT DOWN” approach to government waste.

Also Read: Dogecoin’s 24-Hour Trading Volume Surge Above 200% As Market Boost Amid Trump’s Victory