DOGE Surged by 15% as its Avatar Appears on Musk’s Doge Agency

DOGE price surged by over 15%, following its avatar’s launch on the Department of Government Efficiency (DOGE) website on January 21st, 2025.

The launch of the D.O.G.E website briefly propelled Dogecoin’s price beyond $0.40, although it remains significantly below its all-time high of $0.73 reached in May 2021.

The official .gov website, clearly identifying itself as a US government entity, prominently features the Dogecoin logo alongside the slogan “the people voted for major reform.” The overt display of the memecoin’s iconography on a government platform has ignited considerable interest amongst retail investors, who perceive the agency as a potential catalyst for increased Dogecoin value.

Musk’s Connection to $DOGE Price Action

Musk is now reportedly assuming sole operational control following the departure of Vivek Ramaswamy, who is reportedly planning a gubernatorial run in Ohio. This consolidation of power under Musk, a known Dogecoin enthusiast, has reinforced the perceived connection between the agency and the cryptocurrency.

The recent price increase builds upon Dogecoin’s previous market gains. On November 27th, 2024, Dogecoin’s market capitalization surpassed that of Porsche, largely driven by Musk’s endorsements and anticipation of a potential exchange-traded product (ETP).

However, the agency’s activities are not without controversy. The National Security Counselors, a public interest law firm, is preparing legal action against DOGE, alleging violations of the Federal Advisory Committee Act (FACA).

The complaint, a 30-page document reviewed by the Washington Post, argues that DOGE’s operations lack transparency and fail to adhere to established disclosure and hiring regulations, deviating from the more balanced practices observed in similar agencies.

The firm cites the lack of publicly accessible meeting minutes and the exclusion of public participation as key violations.

Trump’s Administration DOGE Approval

Despite the legal challenges, the DOGE agency’s mandate, as outlined by President Trump in his November announcement, is to facilitate extensive governmental restructuring from outside the formal governmental apparatus.

However, this “entrepreneurial approach,” collaborating with the White House and the Office of Management and Budget, aims to achieve significant reductions in bureaucracy, regulations, and expenditure.

Billy Markus and Jackson Palmer created Dogecoin in 2013 as a lighthearted project, contrasting sharply with its current entanglement in high-stakes political and financial maneuvering.