Will Musk Join U.S. Department of Government Efficiency, Sparking Another DOGE Rally?
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Will Musk Join U.S. Department of Government Efficiency, Sparking Another DOGE Rally?
If the government cannot be made efficient, America will go bankrupt.
Navigating Web3 tides with focused insightsBy 1912212.eth, Foresight News
Not long ago, just before Donald Trump officially won the U.S. presidential election, Elon Musk prematurely posted a celebratory tweet featuring an image of himself carrying a washbasin into the White House. Now, that image has become reality—Musk has effectively entered the administration.
According to public documents, Trump announced today that Elon Musk will co-lead the newly established Department of Government Efficiency (DOGE) alongside Vivek Ramaswamy, an American entrepreneur and patriot.
Following the announcement, market data showed that Dogecoin (DOGE), which shares its ticker with the department’s acronym, rose from $0.36 to above $0.40.
Department of Government Efficiency Officially Launches, All Actions to Be Published Online
Musk’s plan for the Department of Government Efficiency had been in development even before Trump's election victory. This initiative, jointly conceived by Musk and former President Donald Trump, aims to conduct a comprehensive financial audit of the federal government and propose measures to eliminate waste, fraud, and unnecessary spending.
In September, Trump formally declared during a speech at the New York Economic Club that, if elected, he would establish the Department of Government Efficiency with Musk. Thus, today’s official declaration marks the natural culmination of this plan.
Trump expressed high expectations, stating: “It could become the ‘Manhattan Project’ of our time.” The goals of “DOGE” have long been a dream for Republican politicians. To drive such transformative change, the Department of Government Efficiency will operate externally to the government, providing recommendations and guidance in collaboration with the White House and the Office of Management and Budget, pushing forward large-scale structural reforms to create an unprecedented entrepreneurial government.
The statement concluded: “Their work will be completed no later than July 4, 2026, delivering a smaller, more efficient, and less bureaucratic government—a perfect gift to America on the 250th anniversary of the Declaration of Independence.”
After the release of Trump’s statement, Musk took to X repeatedly to clarify that the Department of Government Efficiency is not a threat to democracy, but rather a threat to bureaucracy. He also warned that if the government cannot be made efficient, the United States will go bankrupt.
Musk further outlined upcoming plans: all actions taken by the department will be published online to ensure maximum transparency. If the public believes the department is cutting essential programs or failing to eliminate wasteful spending, they will be encouraged to report it. Additionally, the department will publish a ranking of the most absurd and ridiculous uses of taxpayer money.
The Department of Government Efficiency and the Rise of Meme Coins
The acronym D.O.G.E. for the Department of Government Efficiency is no coincidence—it draws direct inspiration from the Dogecoin community. In an August social media exchange, Musk described the name as "perfect."
Today, Musk officially unveiled the department’s logo, which features a dog—the same iconic mascot associated with Dogecoin.
With this, Dogecoin becomes officially linked to the Department of Government Efficiency. Moving forward, beyond developments related to Musk and his companies, any action taken by this new department could further fuel momentum for DOGE.
Dogecoin has been on an upward trajectory since Trump’s presidential win, climbing from $0.18 to a recent high of $0.438 before pulling back. Today, spurred by Musk’s tweets, DOGE reversed its decline and surged back above $0.40, gaining over 6% within one hour.
Dogecoin was the first internet meme-based cryptocurrency, originally launched on December 8, 2013, by Jackson Palmer and Billy Markus. During the previous market cycle, Musk actively promoted DOGE on social media, even endorsing it as a payment method for his companies. As a result, the token soared from a low of $0.00113 to $0.73995—an increase of more than 600 times.
Similarly, the Solana-based meme coin D.O.G.E. briefly broke through $5, surging nearly 300% within one hour.
Notably, when responding to online criticism questioning the necessity of his new department, Musk tweeted: “America was saved by a squirrel and a meme coin.” This single post caused PNUT, a squirrel-themed meme coin, to spike temporarily above $0.90, rising over 80% in a single day, with its market cap now exceeding $800 million.
How the Department of Government Efficiency, co-led by Musk, will perform remains uncertain. But one thing is clear: it has captured global attention. And under its influence, a new era may be dawning for meme coins.
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