- The Division of Authorities Effectivity web site launches with the dogecoin emblem.
- DOGE value reacts greater and reaches $0.40.
Dogecoin value rose sharply on Tuesday earlier than paring some positive aspects. This comes because the US authorities formally launched the Division of Authorities Effectivity (DOGE) web site.
Notably, the Doge.gov web page presently solely shows the Dogecoin token emblem.
BREAKING: Thereβs a dogecoin on the official web site of the Ministry of Authorities Effectivity. (canine dot gov) pic.twitter.com/JnmnSW6hTW
β DogeDesigner (@cb_doge) January 21, 2025
Elon Musk will lead the division, and an internet site that includes a Dogecoin meme canine avatar shortly catalyzed a major enhance within the value of DOGE. On CoinGecko, Dogecoin hit a excessive of $0.40 after buying and selling close to $0.33 earlier within the day.
Trump revealed DOGE
US President Donald Trump formally unveiled the Musk-led Doge throughout his first post-inauguration speech on January 20.
βTo revive the competence and effectivity of our federal authorities, my administration will set up a model new Division of Authorities Effectivity,β Trump stated.
Dogecoin and different cryptocurrencies fell after Trump's latest speech, with the market reacting decrease as there have been no crypto-related remarks within the speech. Bitcoin fell to a low of $100,000 whereas Trump's meme coin TRUMP and first woman Melania Trump's meme MELANIA fell onerous.
DOGE, the unique meme coin cryptocurrency that options the long-lasting shiba inu canine, additionally crashed. Nonetheless, the newest information confirmed bulls capping the bearish motion with a peak above $0.37 to retake the pre-inauguration highs.
What subsequent for the DOGE value?
If the bulls handle to carry above $0.37, they might goal final week's $0.41 resistance and sure attempt to break the December 2024 highs round $0.46. On the draw back, the draw back may see a bearish $0.30.
