Elon Musk, the billionaire founder of Tesla and SpaceX, has long been a supporter of Dogecoin, a meme-based cryptocurrency. His frequent promotion of Dogecoin has often led to price surges. Recently, Musk has expressed interest in leading a potential “Department of Government Efficiency” (D.O.G.E) under former President Donald Trump’s administration, should Trump be re-elected.
Trump’s Plan for D.O.G.E
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 Reaction to Trump’s Offer
Musk responded to Trump’s offer through a meme on his X account, hinting at the possibility of heading this new department if Trump wins the 2024 election.
The meme featured Musk sitting behind a desk with a placard labeled “D.O.G.E,” cleverly referencing both Dogecoin and the proposed government department. The meme not only sparked excitement but also had an impact on Dogecoin itself.
Dogecoin’s Potential Price Surge
After Musk’s post, Dogecoin saw a surge in its price, increasing by 1.95% over the past week. After recovering from a decline, the cryptocurrency has risen by 6.76% since the start of the week and now currently trading at $0.10.
If the bullish pattern continues, Dogecoin could see a significant price increase, potentially reaching $0.15, which would represent a 50% gain from its current value.
Meanwhile, this isn’t the first time Musk’s comments have impacted the coin, but the connection between Dogecoin and his potential government role is now making waves
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