EddieJayonCrypto
22 Jan 25
A day after the establishment of the Department of Government Efficiency (D.O.G.E.) by Donald Trump, a website for the Elon Musk-led Department has appeared, featuring the Dogecoin logo. As a result, Dogecoin's market cap has jumped 14% to $58 billion. The site, Doge.gov, was registered in Los Angel...
Following the establishment of the Department of Government Efficiency (D.O.G.E.) by Donald Trump, a website for the Elon Musk-led Department has emerged, prominently featuring the Dogecoin logo. This development led to a 14% surge in Dogecoin's market cap, reaching $58 billion. The official website, Doge.gov, was registered in Los Angeles, California and confirmed as an official government website. Notably, the Department's acronym matches Dogecoin's ticker symbol, although Elon Musk has not yet acknowledged the Dogecoin branded website. It is apparent that the D.O.G.E. website is live but likely still under development, and Dogecoin's price spiked by 14.4% to $0.396. Concurrently, the Department faced a lawsuit alleging illegal operation as a federal advisory committee and it was disclosed that Musk was poised to become the sole leader of D.O.G.E.
Additionally, minutes after Trump's inauguration, D.O.G.E. was served a lawsuit, alleging its illegal operation as a federal advisory committee, bypassing the rules outlined in the Federal Advisory Committee Act. In light of this, it was revealed that Musk was set to assume the role of the sole leader of D.O.G.E., following the resignation of biotech entrepreneur Vivek Ramaswamy.