The Department of Government Efficiency launched a website with scant details, but a large Dogecoin logo sparked speculation on social media. The Elon Musk-led Department of Government Efficiency featured the Shiba Inu mascot of the popular Ethereum-based meme coin Dogecoin (DOGE) on its newly launched government website. Billionaire entrepreneur and X owner Elon Musk heads the unofficial initiative, which is focused on cutting government spending.
With only 18 words on the platform and a Dogecoin poster, likely inspired by Musk’s well-known affection for the meme coin, crypto users speculated on the meaning of the unexpected addition. Following the news, DOGE gained over 4% in the past 24 hours. However, the coin’s rally was likely part of a broader market upswing, as nearly every cryptocurrency in the top 10 by market cap (excluding stablecoins) turned green in the past hour.
Meanwhile, the Department of Government Efficiency has had a rocky start. Vivek Ramaswamy, the organization’s co-leader and a Bitcoin (BTC) advocate, announced his departure from the department just one day after Trump’s inauguration. Sources suggest that the former presidential candidate may shift his focus to running for Ohio governor. If true, Ohio could soon be led by a pro-Bitcoin official. Last year, the state introduced legislation to establish a strategic Bitcoin reserve, joining over a dozen other states in the race to front-run President Trump on Bitcoin-related policies.