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Dogecoin Surges 13% as DOGE Department Launches Official .gov Website

Dogecoin

Tuesday, 21/01/2025 | 15:50 GMT by
Tareq Sikder

  • The new department, focused on reducing government spending, was announced by President Trump.
  • Another similarly named token, DOGE from dogegov.com, rose by 35% in 24 hours.

dogecoin

Dogecoin token

Dogecoin (DOGE) saw a 13% price increase in just 15 minutes today
(Tuesday) after the official website of the US Government Efficiency
Department (DOGE) was launched. This surge broke its short-term downtrend.

DOGE Department’s Website Boosts Dogecoin Price

The increase followed news about the new department, led by
the Elon Musk-affiliated agency. The department, focused on reducing government
spending and improving regulations, revealed its official website. The site
prominently displays the Dogecoin logo along with the department’s title and a
dollar sign. The slogan “The people voted for major reform” is also
visible.

???? BREAKING: The US Government Efficiency Department (DOGE), led by Elon Musk, launches its official website using Dogecoin as its avatar. pic.twitter.com/VGUJgG3ZsM

— Cointelegraph (@Cointelegraph) January 21, 2025

The website claims to be the US government’s official page
for the department. President Donald Trump had mentioned during his inauguration that
his administration would create the department to restore efficiency to the
government, and he later signed an executive order to formalize it.

DOGEUSD Breaks Out, Consolidates at Support

The DOGEUSD H1 chart shows a significant bullish breakout
above a downtrend line. Currently, the price is consolidating at the support of
the trendline. A bullish reversal could drive the price higher with strong
momentum.

DOGEUSD, H1 Chart, Source: TradingView

Before the website’s launch, Dogecoin had fallen by 10%, but
the price quickly reversed, reaching a high of $0.40 after hitting an intra-day
low of $0.33 on January 15, marking a 20% increase.

Social Media Boosts Dogecoin’s Market Value

Additionally, another token, Department of Government
Efficiency (DOGE) from dogegov.com, rose by 35% in the past 24 hours.

Analysts suggest that the increased visibility of Dogecoin,
especially through its use in government-related media, might enhance its
perceived value. Social media also contributed to the spread of the news, with
many users commenting on the development.

Dogecoin (DOGE) saw a 13% price increase in just 15 minutes today
(Tuesday) after the official website of the US Government Efficiency
Department (DOGE) was launched. This surge broke its short-term downtrend.

DOGE Department’s Website Boosts Dogecoin Price

The increase followed news about the new department, led by
the Elon Musk-affiliated agency. The department, focused on reducing government
spending and improving regulations, revealed its official website. The site
prominently displays the Dogecoin logo along with the department’s title and a
dollar sign. The slogan “The people voted for major reform” is also
visible.

???? BREAKING: The US Government Efficiency Department (DOGE), led by Elon Musk, launches its official website using Dogecoin as its avatar. pic.twitter.com/VGUJgG3ZsM

— Cointelegraph (@Cointelegraph) January 21, 2025

The website claims to be the US government’s official page
for the department. President Donald Trump had mentioned during his inauguration that
his administration would create the department to restore efficiency to the
government, and he later signed an executive order to formalize it.

DOGEUSD Breaks Out, Consolidates at Support

The DOGEUSD H1 chart shows a significant bullish breakout
above a downtrend line. Currently, the price is consolidating at the support of
the trendline. A bullish reversal could drive the price higher with strong
momentum.

DOGEUSD, H1 Chart, Source: TradingView

Before the website’s launch, Dogecoin had fallen by 10%, but
the price quickly reversed, reaching a high of $0.40 after hitting an intra-day
low of $0.33 on January 15, marking a 20% increase.

Social Media Boosts Dogecoin’s Market Value

Additionally, another token, Department of Government
Efficiency (DOGE) from dogegov.com, rose by 35% in the past 24 hours.

Analysts suggest that the increased visibility of Dogecoin,
especially through its use in government-related media, might enhance its
perceived value. Social media also contributed to the spread of the news, with
many users commenting on the development.

Tareq Sikder

  • 1260 Articles
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A Forex technical analyst and writer who has been engaged in financial writing for 12 years.

  • 1260 Articles
  • 18 Followers

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YouTube’s Tuma Basa to Exit as Director of Black Music & Culture

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Feza – Khanyisa

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Universal Music and Believe Reach Settlement in Copyright Infringement Dispute — $500 Million Case Dismissed With Prejudice

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Watch A$AP Rocky Perform ‘Don’t Be Dumb’ Tracks for Amazon Music’s ‘Songline’ Series: ‘Live From New York’

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Ciza launches ‘CIZA’s Palace’ with first Afrohouse mix

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The Vogue Business Funding Tracker

Introducing the Vogue Business Funding Tracker, a running list highlighting the most notable and intriguing investment and M&A activity in fashion and beauty. From emerging disruptors to legacy giants undergoing major changes, we spotlight the deals that are shifting the dynamics of the sectors we cover, including fashion, beauty, tech and sustainability. April 2026 Icicle
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Family Business? Tee Grizzley Reacts After His Mom Accuses Him Of Leaving Her To Struggle (PHOTOS)

Y’all… it looks like some family tension might be brewing behind the scenes involving Tee Grizzley and his mom. What seemed like a regular social media post quickly turned into something deeper. And now, folks are side-eyeing the situation and wondering what’s really going on. RELATED: Tee Grizzley Shares A Message For Artists After His
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SoE necessary but not sufficient, business leaders say

PE­TER CHRISTO­PHER Se­nior Mul­ti­me­dia Re­porter pe­ter.christo­pher@guardian.co.tt Heavy hand­ed but nec­es­sary giv­en the state of crime in T&T. This was a com­mon as­sess­ment from var­i­ous busi­ness groups when asked for their per­spec­tive on the lat­est de­c­la­ra­tion of a state of emer­gency in the coun­try. The T&T Cham­ber of In­dus­try and Com­merce, in a re­leased is­sued yes­ter­day
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