One day after Ministry of Government Effectiveness (colloquially known as DOGE) was created by Donald Trumpa website for the department led by Elon Musk has appeared, highlighting the Dogecoin logo. As a result, Dogecoin surged 14% to reach a market cap of $58 billion.
The site, Doge.govwas recorded Tuesday in Los Angeles, California, by an employee of the US Cybersecurity and Infrastructure Security Agency. Decrypt also called the registrar’s phone number which confirmed that it was an official government website. Elon Musk and the official DOGE X accounts, formerly known as Twitter, have yet to release the Dogecoin brand website.
The department’s acronym is the same as the DOGE symbol for Dogecoin, a coin that Musk has vocally supported for years. Musk’s bullish promotion of Dogecoin has already led to Tesla CEO being investigated by the SEC and a 2023 market manipulation trial.
Doge.gov is a clean site and probably still under development. It has a black background and a few lines of text. The biggest feature of the page is the Dogecoin logo. It’s worth noting that this is clearly the Dogecoin logo and not just the original photo of the Shiba-Inu, as it sits inside a slightly cartoonishly styled gold coin, almost identical to the one Shiba Inu. Dogecoin Logojust excluding the white D. Also, when checking the source code of the page, there is Doge ASCII art on the first line.
Thus, Dogecoin (DOGE) soared 14.4% in just 30 minutes to reach a price of $0.396. It has since fallen back to $0.3782.
Minutes after Trump’s inauguration on Monday, DOGE was the subject of a lawsuit which alleged the company was illegally operating as a federal advisory committee. In doing so, he circumvents Federal Advisory Committee Act rules regarding hiring, disclosure and other matters, the lawsuit says.
The Federal Advisory Committees Act is a federal law that oversees government advisory committees to ensure that their members have a comprehensive view on topics with clear practices and transparent public records. DOGE does not meet the requirements set forth by this law although it functions as an advisory committee, the lawsuit claims.
It was also revealed on Monday that Musk was about to become the sole leader of DOGE. This comes after Vivek Ramaswamy, a biotechnology entrepreneur, resigned in his bid for governor of Ohio.
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