Dogecoin Increased in Price After The Logo Appeared On The DOGE Website

As long as the one-page web resource contains only the agency name, dollar sign, and slogan: “The people voted for major reforms.” Against this background, quotes of the digital asset at the moment soared to the region of $0.43. After a slight correction, the rate rolled back to ~$0.36. Over the past 24 hours, the cryptocurrency has gained 2.3% against the market (CoinGecko). Bitcoin fell by 2.5% during this period, and the total capitalization of digital assets decreased by 3.3%. According to the executive order creating the DOGE agency, its primary mission will be to “modernize federal technology and software to maximize the efficiency and productivity of government.” The agency is not an official government department and has a limited lifespan. All planned reforms with an “entrepreneurial approach” should be completed by July 2026. US President Donald Trump, after winning the election in November 2024, chose billionaire Ilon Musk and former electoral rival Vivek Ramaswamy as co-directors of DOGE. On January 21, Ramaswamy confirmed that he has withdrawn from further participation in DOGE. The businessman intends to focus on the Ohio gubernatorial election next year. It was my honor to help support the creation of DOGE. I’m confident that Elon & team will succeed in streamlining government - he stated. Musk, who remains the sole head, is known as one of the main promoters of Dogecoin. His tweets and actions have repeatedly caused the price of this cryptocurrency to skyrocket. In August 2024, a court in the United States dismissed a lawsuit for $258 billion against the entrepreneur and electric car manufacturer Tesla for promoting Dogecoin.