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The U.S. government’s Department of Government Efficiency (DOGE) has officially gone live, prominently featuring the Dogecoin Memecoin logo on its website.
The surprising development coincided with a notable 10% spike in Dogecoin’s price, which jumped from $0.35 to $0.38 within a minute of the announcement.
DOGE’s Price Actions
At the time of writing, Dogecoin is trading at $0.37, up by over 3.5% in the last 24 hours. The cryptocurrency’s global market capitalization now stands at $55.76 billion, with a 24-hour trading volume increase of 4.53%.
The DOGE website displays the Dogecoin logo alongside the statement, “The people voted for major reform.” Interestingly, the site’s HTML code features an ASCII version of the Dogecoin logo and a link to the Department’s official X (Twitter) account.
This branding has fueled speculation among retail investors that the agency’s operations could bolster Dogecoin’s price.
The Department of Government Efficiency, led by Elon Musk, is tasked with streamlining government processes and improving operational transparency.
Musk’s involvement has further intensified the link between the agency and Dogecoin, given his well-documented support for the meme-based cryptocurrency.
Also Read: Dogecoin Flips Porsche in Market Cap, Is This Rational Valuation or Meme Madness?
Legal Challenges Loom Over DOGE
The Musk-led agency may soon face legal troubles. National Security Counselors, a public interest law firm, has announced its intention to sue the DOGE agency for alleged violations of federal transparency laws.
The firm claims DOGE has breached the Federal Advisory Committee Act (FACA), which mandates that advisory committees to executive branches adhere to strict disclosure and hiring standards.
If the lawsuit proceeds, it could pose a significant challenge to the newly established department and spark further public scrutiny of its operations and branding choices.
Vivek Ramaswamy Steps Down from DOGE Role
In a related development, Indian-origin entrepreneur Vivek Ramaswamy, who was initially selected by President Donald Trump to co-lead the DOGE agency with Musk, will no longer serve in the role.
Hours after Trump was sworn in as the 47th President of the United States, the White House confirmed Ramaswamy’s departure from DOGE.
In a statement on X, Ramaswamy said, “It was my honour to help support the creation of DOGE. I’m confident that Elon & team will succeed in streamlining government.
He added: I’ll have more to say very soon about my future plans in Ohio. Most importantly, we’re all-in to help President Trump make America great again.”
A New Chapter for Dogecoin and U.S. Governance
The launch of DOGE with its Dogecoin-inspired branding represents an unprecedented blend of cryptocurrency culture and government reform.
While its impact on Dogecoin’s price remains speculative, the developments have undoubtedly placed both the agency and the cryptocurrency in the global spotlight.
Also Read: Dogecoin Whales Accumulate Over 1 Billion DOGE Amid Optimism Of Price Rally