Elon Musk, the billionaire founder of Tesla and SpaceX, has been a vocal supporter of Dogecoin, the meme-based cryptocurrency that has seen significant price surges following his endorsements.
Now, Musk’s interest in Dogecoin has taken a political twist, as he expressed openness to leading a potential “Department of Government Efficiency” (D.O.G.E) under former President Donald Trump, should Trump be re-elected.
In August, Musk shared an AI-generated image of himself with the label “D.O.G.E.” and the words “Department of Government Efficiency.” He captioned the image with, “I am willing to serve,” indicating his openness to the role.
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 Musk’s involvement would bring a major shake-up in how the federal government operates.
Musk’s response to Trump’s offer came in the form of a meme on his X account, where he depicted himself seated behind a desk with a “D.O.G.E” placard—a clever nod to both Dogecoin and the proposed government role.
This meme not only generated buzz but also had an immediate impact on Dogecoin’s market performance.
Following Musk’s post, Dogecoin experienced a 1.95% price surge over the past week. After recovering from a previous decline, the cryptocurrency has risen by 6.76% since the start of the week and is currently trading at $0.10. If the bullish trend continues, Dogecoin could potentially climb to $0.15, marking a 50% gain from its current value.
This is not the first time Musk’s comments have influenced Dogecoin’s market value, but the connection between his potential government role and the cryptocurrency is creating even more excitement.
As the story unfolds, Dogecoin enthusiasts and investors alike are closely watching to see how this unique blend of politics and crypto will play out.
Read Also: 9/11 CPI Surprises: Here is What to Expect from Crypto Markets This Week
XRP, the native token of Ripple Labs, is gaining massive attention from long-term holders despite…
The crypto market has recently experienced a vast downturn, with most important projects such as…
The US markets are experiencing one of the massive pullbacks, with major stocks plunging by…
PEPE hopped its way to a $3.8 billion market cap, but its reign as a…
Ripple’s (XRP) recent rally from $2.00 to $2.20 has sparked excitement among cryptocurrency enthusiasts. This…
The crypto circus has a new ringmaster: Influencer Pepe (INPEPE). This Pepe-the-Frog-inspired token is making…
