Dogecoin is making headlines after President-elect Donald Trump announced the creation of the Department of Government Efficiency on X this past Wednesday. This meme coin was worth 16 cents on Election Day and has since more than doubled to a high of nearly 39 cents earlier today.

Dogecoin, the meme cryptocurrency often associated with Elon Musk, soared in value after President-elect Donald Trump greenlit the tech billionaire's ideas for a new executive department by a similar name.

Elon Musk's Department of Government Efficiency seeks "Top 1%" talent to tackle government waste, demanding 80+hour weeks and high IQ from applicants.

Musk and Vivek Ramaswamy were appointed by Trump to lead DOGE, which will function as an advisory committee outside of the government.

President-elect Donald Trump has officially announced that fellow billionaire Elon Musk will head a new U.S. Department of Government Efficiency ("DOGE") under his administration. Musk may not be eligible to run for president,

The meme coin's value soared to nearly 40 cents, and market analysts are speculating it may soon skyrocket to $1 a coin.