Dogecoin Surges 17% After DOGE Gov Launches Website with DOGE Logo

Dogecoin prices surged by 17% within an hour after a sudden link to the U.S. government emerged. The Dogecoin logo appeared on the official website of the Department of Government Efficiency (DOGE), sparking excitement among the Dogecoin community and investors.

Coinciding with the website's launch, Dogecoin's price soared from $0.34 to $0.40, stabilizing at approximately $0.38. This surge boosted Dogecoin's market capitalization to around $56.5 billion.

Source: U.S. Gov

While the new website displays the Dogecoin logo, it appears more as a playful reference to the asset's "DOGE" abbreviation rather than an official representation of the department. Notably, the website's tab icon is a gold dollar sign unrelated to Dogecoin.

Elon Musk, the CEO of Tesla and a known Dogecoin enthusiast, has been appointed as the head of the Department of Government Efficiency. Musk's previous involvement with Dogecoin has significantly influenced its price, and this latest development seems to have had a similar impact.

Despite the recent spike, Dogecoin's price remains over 48% below its all-time high of $0.73, reached in May 2021.

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