Dogecoin price explodes as government efficiency website adds meme coin logo

TL:DR;

Dogecoin price headed north after the recent fall in the market and rose from $0.345 to $0.4 within minutes. The dramatic rally comes after reports surfaced that the Musk-led Department of Government Efficiency (DOGE) had coined the meme coin logo.

The official website of the Department of Government Efficiency (DOGE) has gone live, displaying the $DOGE logo. pic.twitter.com/f9aEhpCvM0

— MaxBull.eth.CNS (@CryptoRanger) January 21, 2025

Since the announcement of Trump's pro-crypto presidential campaign, the newly-launched State Department has become the talk of the town in the digital asset industry for publicly displaying the largest and oldest meme coin.

Elon Musk and Vivek Ramaswamy were the two people initially mentioned to lead the project, but the latter has reportedly decided to leave the project and focus on becoming the governor of Ohio.

However, DOGE was officially announced yesterday during Trump's inauguration speech and the website now displays the Dogecoin logo separately from the X page (for now).

The meme coin price responded immediately. The asset dipped as low as $0.345 before the logo change but exploded over 15% in minutes to over $0.4. This has become the highest price tag in the last couple of days.