The new U.S. Department of Government Efficiency (D.O.G.E.), led by Elon Musk, surprised everyone by showing the Dogecoin logo on its website. This move caused Dogecoin’s price to jump by 15% in just a few minutes, grabbing the attention of crypto fans everywhere. Is this the start of a big rise for Dogecoin?
The Department of Government Efficiency, recently launched by Elon Musk, has quickly become a hot topic in the world of crypto. Recently the department’s official website displayed the Dogecoin logo, causing a stir among the crypto community.
The connection between the department and Dogecoin is no coincidence; many believe the department’s name is a playful reference to the world’s most famous meme coin.
This department has gained attention ever since it was introduced as part of Trump’s pro-crypto campaign. Many crypto fans see it as a fun nod to Dogecoin, and that has certainly helped the meme coin get more attention.
The display of the Dogecoin logo on the department’s website triggered a sharp and immediate reaction in the market. Before the logo was revealed, Dogecoin’s price had slipped to around $0.345.
However, within minutes of the announcement, the price shot up more than 15%, reaching a high of $0.3983. This was the highest price Dogecoin had seen in the last two days, marking a clear connection between the news and the coin’s rapid price movement.
Despite the excitement, the D.O.G.E. department is facing some challenges. Coindedia News reported that it is being sued for not following transparency laws. A legal group called National Security Counselors claims that the department is not open enough, as required by the Federal Advisory Committee Act of 1972.
This law is meant to make sure that government groups operate in a clear and public way. Critics say that D.O.G.E. hasn’t met these standards, which could cause problems for the department.
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