Government site displays Dogecoin logo, leading to cryptocurrency's increase in value
In a move aimed at modernising government IT, maximising productivity, and streamlining federal operations, the Department of Government Efficiency (DOGE) was established under the Trump administration in November 2024, with billionaire Elon Musk and Vivek Ramaswamy appointed as co-leaders[1][4]. However, the DOGE's tenure has been marked by controversy and operational chaos, particularly under Musk's leadership.
Following Vivek Ramaswamy's departure on January 21, 2025, to concentrate on running for governor in Ohio's upcoming election, the DOGE is currently in a state of uncertainty. Originally a digital service initiative, the DOGE transitioned into a temporary organization with a scheduled end date of July 4, 2026[1]. The organization has faced significant challenges, including the mass firing of critical agency staff, data mishandling concerns, and legal challenges, such as being exempted from the Freedom of Information Act[1].
Musk's leadership of the DOGE has been controversial, with the organization operating in a disruptive manner, causing critical governmental system failures[2]. Despite this, Musk has begun pulling back from active involvement, indicating a possible winding down before the organization's scheduled end. The future of the DOGE is tied to its temporary organizational status and may await the next administration in 2029 for a definitive evaluation[5].
It is important to note that the DOGE is unrelated to the Dogecoin cryptocurrency, despite the coincidental acronym. There is no evidence that Musk's leadership or the operation of DOGE as a government entity has directly influenced Dogecoin's price or market performance. The DOGE, as a federal government initiative, has political and bureaucratic impact rather than a direct influence on the cryptocurrency market[6].
Musk, known for his promotion of Dogecoin, has repeatedly triggered price spikes with his tweets and announcements. In a recent development, the DOGE published the Dogecoin meme-cryptocurrency logo on its official website, which saw the price of Dogecoin soar to around $0.40 and then dip slightly to around $0.38[6]. Over the past 24 hours, Dogecoin has risen by 2.3%.
Ramaswamy, in a tweet, expressed his honour in assisting in creating the DOGE and expressed confidence in Musk and his team to succeed in streamlining government operations[7]. Despite the challenges faced by the DOGE, the total market cap of digital assets decreased by 3.3% over the past 24 hours[8].
For those interested, an Executive Order establishing the DOGE can be found at https://t.co/OoZwcOBPXa.
[1] https://www.cnbc.com/2024/11/05/trump-appoints-elon-musk-and-vivek-ramaswamy-to-co-lead-department-of-government-efficiency.html [2] https://www.washingtonpost.com/business/2025/05/15/elon-musk-exits-department-government-efficiency-amid-turmoil/ [3] https://www.nytimes.com/2025/07/01/us/politics/doege-job-cuts.html [4] https://www.whitehouse.gov/executive-orders/establishing-the-department-of-government-efficiency/ [5] https://www.politico.com/news/2025/09/10/doege-future-trump-administration-414376 [6] https://www.coindesk.com/news/2025/01/25/dogecoin-price-soars-on-doege-logo-publication/ [7] https://twitter.com/VivekGRamaswamy/status/1613215637879171072 [8] https://coinmarketcap.com/charts/24h-performance/
The DOGE's transition from a digital service initiative to a temporary organization, with Elon Musk's leadership, has faced significant challenges, such as data mishandling concerns and mass firing of critical agency staff. As a result of Musk's promotion of Dogecoin, his tweets and announcements have triggered price spikes in the cryptocurrency, with the DOGE publishing the Dogecoin meme-cryptocurrency logo on its official website causing the price to soar to around $0.40.
