Trump Appoints Dogecoin Fan Elon Musk to Lead the D.O.G.E Agency
The US President-elect Donald Trump has appointed X Owner and Tesla CEO Elon Musk to lead the proposed Department of Government Efficiency (D.O.G.E). According to Trump’s announcement on Tuesday, Musk will be assisted by well-known entrepreneur Vivek Ramaswamy.
Trump Reveals Elon and Ramaswamy’s Responsibilities
Trump says the two will help his administration remove excess regulations, minimize wasteful expenditures, restructure Federal Agencies, and dismantle Government Bureaucracy. He terms the move as a vital step toward his mission to ‘Save America.’
Over the past few months, Trump and Musk have accused Joe Biden’s administration of being wasteful, claiming that the over $6 trillion federal budget has not benefited common Americans. The two billionaires believe that D.O.G.E will allow them to create a more accountable and smaller government with a key focus on entrepreneurship and efficiency.
A few minutes after Trump made his announcement, Musk took to X to inform his followers that all actions of the D.O.G.E agency will be shared online for transparency purposes. Moreover, he called on the public to share their opinions whenever an action is taken.
D.O.G.E to End Its Operations by Mid-2026
Trump, who defeated Kamala Harris to clinch the top seat earlier this month, first announced the D.O.G.E agency in September during the Economic Club of New York forum. At the time, Musk supported the idea, saying it would unlock enormous prosperity for the United States.
Meanwhile, Trump expects Ramaswamy and Elon to complete their work by July 4th, 2026, a day when Americans will be celebrating the 250th anniversary of Independence. He’s optimistic that the two will deliver the desired results within the specified timeframe.
Dogecoin’s Outstanding Performance
Dogecoin, a meme coin that Elon Musk has openly supported on X, climbed 6.4% before Trump’s announcement. However, it has dropped 2.8% to $0.3694 in the past 24 hours.
Like other leading cryptocurrencies, Dogecoin has rallied since Donald Trump was declared the winner of this year’s Presidential election. The meme coin has seen the most gains (153%) among the top ten currencies in the last seven days. On Monday, it hit $0.43 for the first time since 2021. Several analysts believe DOGE will cross its all-time high of $0.73 in 2025.
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