Dogecoin Price Surges as Department of Government Efficiency Adds Memecoin Logo

The launch of a new government department during Trump’s inauguration has sparked widespread discussion in the digital asset community, largely due to its playful nod to the popular meme coin, Dogecoin.

The Department of Government Efficiency (D.O.G.E.), first teased during Trump’s pro-crypto campaign, quickly became a focal point of interest.

Initially set to be led by Elon Musk and Vivek Ramaswamy, the leadership structure shifted as Ramaswamy opted to step away to focus on a potential run for Ohio governor.

Despite this change, D.O.G.E. was officially introduced during Trump’s inauguration, with its website prominently displaying Dogecoin’s logo—a detail that caught the attention of many.

The impact on Dogecoin’s market value was immediate. Before the announcement, the coin had dropped to $0.345, but the unveiling of the D.O.G.E. branding triggered a surge of over 15%, pushing the price above $0.40.

This marked the highest level for Dogecoin in two days, underscoring the market’s response to the connection between the department and the iconic meme coin.

At the time of writing, DOGE is trading at $0.39 and has a market cap of $57.7 billion.