Key Points
- The Department of Government Efficiency’s new website features a large Dogecoin logo, sparking speculation.
- DOGE’s value increased by over 4% following the news, amidst a broader market upswing.
The Department of Government Efficiency, led by Elon Musk, has launched a new website. The site features the Shiba Inu mascot of the well-known Ethereum-based meme coin, Dogecoin (DOGE).
The Dogecoin Logo and Speculation
The website has minimal content, with only 18 words and a Dogecoin poster. This has led to speculation among cryptocurrency enthusiasts about the possible implications of the Dogecoin logo’s presence.
The value of DOGE increased by more than 4% within 24 hours of the news. However, this surge is likely part of a wider market upswing, as almost every top 10 cryptocurrency (excluding stablecoins) has seen an increase in value.
Department of Government Efficiency’s Rocky Start
The Department of Government Efficiency has not had a smooth beginning. Vivek Ramaswamy, the co-leader of the department and a Bitcoin (BTC) advocate, announced his departure just a day after the inauguration of Trump.
Rumours suggest that Ramaswamy, a former presidential candidate, may run for the Ohio governorship. If this is the case, Ohio could soon have a pro-Bitcoin official at its helm. In the previous year, Ohio introduced legislation to establish a strategic Bitcoin reserve, joining more than a dozen other states in implementing Bitcoin-related policies.