Musk-led DOGE spots Dogecoin logo on website

Dogecoin Sparks Speculation on New Government Efficiency Website

The Department of Government Efficiency's newly launched website has garnered attention for its minimalist content and prominent Dogecoin logo, igniting speculation within the crypto community.

Spearheaded by Elon Musk, the unofficial department aims to reduce government spending. The website features a Shiba Inu mascot, the symbol of the Ethereum-based meme coin Dogecoin (DOGE), as a nod to Musk's known affinity for it.

With limited information provided on the platform, the Doge-inspired poster has fueled conjecture regarding its significance.

Dogecoin's Rise

Following the news, DOGE experienced a surge of over 4% within the last 24 hours. However, this movement is believed to be part of a broader market upturn, with most top 10 cryptocurrencies (excluding stablecoins) posting gains.

Department's Uncertain Future

The Department of Government Efficiency has faced challenges. Vivek Ramaswamy, its former co-leader and Bitcoin advocate, resigned just one day after Trump's inauguration.

Sources indicate that Ramaswamy may be considering a run for Ohio governor. If successful, Ohio could have a pro-Bitcoin official in charge. Ohio has already introduced legislation towards creating a strategic Bitcoin reserve, putting it among a growing number of states exploring Bitcoin-related policies.