🔥 Elon Musk Will Lead DOGE, a New Government Department
posted 13 Nov 2024
President-elect Donald Trump released a statement announcing that Elon Musk and Vivek Ramaswamy will lead the Department of Government Efficiency (DOGE) to “make changes to the federal bureaucracy”.
In the announcement released on November 12, Trump said:
The department's name appears to have been chosen intentionally, especially considering Musk's recent post on X, which featured a dog, the U.S. flag, and the agency's name.
Together, these two wonderful Americans will pave the way for my administration to dismantle government bureaucracy, slash excess regulations, cut wasteful expenditures, and restructure federal agencies -- essential to the 'Save America' Movement.
The newly created department will collaborate with the White House and the Office of Management & Budget to drive large-scale structural reform. One of the department's main goals is to introduce an entrepreneurial approach not seen before in the U.S. government.
The Connection Between the New Department’s Name and Dogecoin
You can’t help but notice that the new department's name is abbreviated as DOGE, which is also the name of Elon Musk’s favorite cryptocurrency, Dogecoin. Previously, the founder of Tesla and SpaceX mentioned Dogecoin multiple times in his posts on X.
The department's name appears to have been chosen intentionally, especially considering Musk's recent post on X, which featured a dog, the U.S. flag, and the agency's name.
Some users in the comments speculated that Musk would likely pump Dogecoin’s price and expressed positive reactions to the news, while others questioned whether the department is real or serious.
Dogecoin’s price, on the other hand, went up by more than 90% in a week. Currently, the coin trades at around $0.37 with a market cap of over $55 billion.
Musk also posted about another memecoin, Peanut (PNUT), inspired by the squirrel Peanut, famous on Instagram. In one post, he wrote: “America was saved by a squirrel and a meme coin” and in another, he used the peanut emoji when sharing stats about animal rights and their use in research programs.
Dogecoin’s price, on the other hand, went up by more than 90% in a week. Currently, the coin trades at around $0.37 with a market cap of over $55 billion.
Musk also posted about another memecoin, Peanut (PNUT), inspired by the squirrel Peanut, famous on Instagram. In one post, he wrote: “America was saved by a squirrel and a meme coin” and in another, he used the peanut emoji when sharing stats about animal rights and their use in research programs.
PNUT’s price surged by over 230% in a day, and hovers around $1.33 at the moment. The coin’s market cap has exceeded $1.33 billion, making it one of the top 100 cryptocurrencies by market cap.
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