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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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How AI Made 2026 the Hardest Year to Get Into Medical School

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US Business Leaders Optimistic About China Cooperation, Emphasize Importance of Chinese Market

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Tesla’s Business Has Become Much More Diversified in Just the Past Five Years. Does That Make Its Stock a Better Buy Today?

Key Points Tesla's energy generation and storage segment generated 27% revenue growth last year. The company's non-automotive segments were able to help offset a double-digit decline in auto revenue in 2025. These 10 stocks could mint the next wave of millionaires › Tesla (NASDAQ: TSLA) is known for its electric vehicles (EVs), and while they
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WD sees sustainability as key business driver in an ‘AI economy’

Hard drive company WD promoted long-term operations and sustainability executive Jackie Jung to become its first chief sustainability officer in February, as it steps up sales to companies building AI data centers. Her vision: Turn sustainability into a “brand” for WD, a strategy that reduces risk for the $6 billion company (formerly known as Western
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