Dogecoin (DOGE) has experienced a 20% price surge after US President Donald Trump announced the creation of the Department of Government Efficiency (D.O.G.E), led by Tesla CEO Elon Musk and entrepreneur Vivek Ramaswamy.
This department aims to reduce government waste, cut unnecessary regulations, and streamline federal operations. The goal is to create a more efficient and responsive government, which is in line with Trump’s “Save America” mission.
Musk and Ramaswamy will drive this reform effort from outside the government, collaborating with the White House and the Office of Management and Budget (OMB).
Trump has compared this initiative to “The Manhattan Project” due to its ambitious nature, and he hopes it will result in a leaner, more accountable government by July 4, 2026, the U.S. 250th anniversary.
Following the announcement, Dogecoin (DOGE) surged nearly 20% to $0.43, now trading at $0.37, according to CoinMarketCap data. Traders and investors are optimistic, with analysts predicting that Dogecoin could hit $2.40 in the near future.
The announcement has sparked renewed interest in the cryptocurrency, with a wave of trading volume signaling strong demand.
Crypto market analyst Ali Martinez believes Dogecoin could climb even higher, possibly reaching $18 if institutional interest in meme coins continues to grow. This optimistic outlook has generated excitement within the Dogecoin community, especially as other meme coins also see price increases.
Speculation is also growing that Dogecoin could be the next cryptocurrency to get an exchange-traded fund (ETF). If approved, a DOGE ETF would make it easier for institutional investors to buy into Dogecoin, further boosting its value.
While there is no official application yet, the buzz around a potential DOGE ETF adds fuel to the ongoing rally.
Also Read: DOGE Soars 34%, Surpassing XRP with $42B Market Cap
