Musk will join the U.S. government's efficiency department, will DOGE dance again?

Author: 1912212.eth, Foresight News

Not long ago, just as Trump was about to officially win the U.S. presidential election, Musk tweeted in advance to celebrate, featuring a picture of Musk entering the White House holding a sink. After the release of this image, Musk has now truly "joined the cabinet" as he wished.

According to public documents, Trump issued a statement today announcing that Elon Musk will collaborate with American patriot Vivek Ramaswamy to lead the upcoming Department of Government Efficiency (abbreviated as "DOGE").

Once the news was released, market data showed that the cryptocurrency Dogecoin (DOGE), sharing the same abbreviation as the department, rose from $0.36 to above $0.4 again.

The Department of Government Efficiency Officially Launched, All Actions Will Be Announced Online

Musk's plan for the Department of Government Efficiency has been in the works since before Trump's election. This initiative was co-launched by him and former President Donald Trump, aiming to conduct a comprehensive financial audit of the federal government and propose suggestions to reduce waste, fraud, and unnecessary spending.

In September of this year, Trump formally stated during a speech at the New York Economic Club that if elected president, he would create the Department of Government Efficiency in collaboration with Musk. Therefore, this document statement is just a formal announcement that was bound to happen.

Trump has high expectations for it, stating: it could become the "Manhattan Project" of our time. Republican politicians have long dreamed of the goals of "DOGE." To promote such radical changes, the Department of Government Efficiency will provide advice and guidance from outside the government and work with the White House and the Office of Management and Budget to drive large-scale structural reforms, creating an unprecedented entrepreneurial government.

The final statement also noted, "Their work will be completed no later than July 4, 2026, bringing a smaller, more efficient, and less bureaucratic government, which will be a perfect gift to America on the 250th anniversary of the Declaration of Independence."

After the announcement of Trump's statement, Musk tweeted continuously about the Department of Government Efficiency, stating that the department is not a threat to democracy but a threat to bureaucracy. He also mentioned that if the government cannot become efficient, America will go bankrupt.

He discussed the upcoming plans, stating that all actions of the Department of Government Efficiency will be published online to achieve maximum transparency. If the public believes the department is cutting important things or not reducing waste, they can inform the Department of Government Efficiency. Additionally, the efficiency department will launch a ranking list of the most absurd and foolish expenditures of taxpayer money.

The Department of Government Efficiency and a Host of Meme Coins

The English abbreviation for the Department of Government Efficiency is D.O.G.E, which is no coincidence. Its inspiration comes from the Dogecoin community; in an interaction on Twitter this August, Musk called the name perfect.

Today, Musk also officially unveiled the logo of the Department of Government Efficiency featuring a puppy image.

Thus, Dogecoin is officially linked to the Department of Government Efficiency. In the future, besides the positive dynamics from Musk and his companies, many actions from this department will also add heat to the rise of Dogecoin.

After Trump was elected president, Dogecoin rose steadily, from $0.18 to a recent peak of $0.438 before retreating. Today, under the influence of Musk's tweet, it briefly stopped falling and rose again to above $0.4, with an increase of over 6% in one hour.

Dogecoin is the first internet meme-based cryptocurrency, initially released by Jackson Palmer and Billy Markus on December 8, 2013. During the last cycle, Musk personally mentioned DOGE multiple times in tweets and even supported DOGE as a payment method for his companies. Benefiting from this positive influence, DOGE rose from a low of $0.00113 to $0.73995, achieving an astonishing increase of over 600 times.

Similar to Dogecoin, the meme coin D.O.G.E on the Solana chain briefly broke through $5, with an increase of nearly 300% within one hour.

It is worth mentioning that today, when Musk responded to netizens questioning the necessity of his department, he stated, "America is saved by a squirrel and meme coins." Influenced by this tweet, the meme coin PNUT, based on a squirrel, briefly surged above $0.9, soaring over 80% in a day, with its market cap now exceeding $800 million.

How the Department of Government Efficiency, co-led by Musk, will perform in the future remains to be seen, but it undoubtedly attracts global attention. Under its influence, a host of meme coins may soon welcome their own shining moments.