- The U.S. Department of Government Efficiency launched a website featuring the Dogecoin logo.
- DOGE price reacted strongly, briefly reaching $0.40.
The price of Dogecoin surged sharply on Tuesday before giving back some gains, coinciding with the official rollout of a Department of Government Efficiency (DOGE) website by the U.S. government. Notably, the Doge.gov site currently displays only the Dogecoin token logo.
BREAKING: Department of Government Efficiency’s official website has a dogecoin on it. (doge dot gov) pic.twitter.com/JnmnSW6hTW
— DogeDesigner (@cb_doge) January 21, 2025
Elon Musk is set to lead the new department, and the site’s prominent Dogecoin meme dog image quickly sparked a strong price reaction for DOGE. According to CoinGecko data, Dogecoin climbed to a high of $0.40, after trading near $0.33 earlier in the day.
Trump Unveils DOGE
President Trump formally introduced the Musk-led DOGE initiative during his first address after taking office on January 20, unveiling plans to establish a new “Department of Government Efficiency.” Following the speech, Dogecoin and other cryptocurrencies initially fell, in part because the address lacked detailed crypto-related policy announcements. Bitcoin dipped toward the $100,000 level, while meme coins tied to Trump—TRUMP—and Melania Trump’s MELANIA token saw heavy selling. DOGE, the original meme cryptocurrency featuring the iconic Shiba Inu, also experienced declines.
Recent developments, however, show buyers pushing back against further losses: DOGE regained momentum and climbed above $0.37, reclaiming levels seen before the inauguration.
What’s Next for DOGE Price?
If bulls can hold DOGE above $0.37, they could target resistance near $0.41, a level seen last week. A successful break above that zone might open the door toward the December 2024 high around $0.46. Traders will be watching on-chain signals, broader market sentiment, and any policy details from the new department that could influence crypto markets.