Trump's DOGE Department Sends Dogecoin Surging. Tesla CEO Elon Musk Pumps Up New Department's Role In Cutting Bureaucracy.

Dogecoin's value surged following President-elect Donald Trump's announcement of a new Department of Government Efficiency, set to be led by Elon Musk and Vivek Ramaswamy. Musk and Trump aim to restructure government spending and reduce bureaucracy. Trump's plans involve drastic government reforms with a deadline of July 4, 2026, the 250th anniversary of the Declaration of Independence. Musk's involvement and continued support for Dogecoin have raised interest in the meme coin, now trading near 40 cents, with a market capitalization of around $58 billion.