The US government DOGE website starts with the Dogecoin logo
Government efficiency website starts with Dogecoin logo. DOGE price reacts higher to reach $0.40.
Dogecoin price rose sharply on Tuesday before releasing some gains. This comes as the US government officially launched the Department of Government Efficiency (DOGE) website.
Specifically, the Doge.gov site currently only displays the Dogecoin token logo.
Break: The official website of the Department of Government Efficiency has Dogecoin. (doge dot gov) pic.twitter.com/JnmnSW6hTW
— DogeDesigner (@cb_doge) January 21, 2025
Elon Musk heads the department, and the website's Dogecoin meme dog avatar has seen a significant increase in the price of DOGE. On CoinGecko, the price of Dogecoin traded around $0.33 on the day, trading at $0.40.
Trump announced Doge
US President Donald Trump officially introduced the Musk-led DOGE in his first speech since his inauguration on January 20.
“To restore efficiency and effectiveness to our federal government, my administration will establish a new Department of Government Efficiency,” Trump said.
Dogecoin and other cryptocurrencies posted Trump's latest speech with the market underreacting to the absence of any crypto-related comments in the speech. Trump meme coin TRUMP and first lady Melania Trump are throwing hard at Melania Trump, Bitcoin is down $100k.
The original meme coin cryptocurrency DOGE, which features an iconic Shiba Inu dog, has crashed. The latest news, however, has seen bulls cut back on the downside move with a rise above $0.37 to reclaim the highs seen before the launch.
What's next for DOGE value?
If bulls manage to hold above $0.37, they may try to push past the resistance seen last week at $0.41 and December 2024 highs of $0.46.
