In a move that feels straight out of a Hollywood political potboiler, U.S. President-elect Donald Trump has appointed the Tesla and X billionaire Elon Musk along with former GOP hopeful Vivek Ramaswamy to lead a newly announced 'Department of Government Efficiency' or DOGE.
Interestingly, DOGE also happens to be the ticker symbol of Musk’s favourite cryptocurrency, Dogecoin. The decision to induct Musk has certainly brought the focus back on this meme coin, whose prices have surged over 30 per cent in the last 5 days with data showing crypto investors showing high confidence in it.
Trump himself acknowledged Musk's efforts quipping that the “Department of Government Efficiency” aims to “cut through the bureaucracy with the same energy Elon brings to rockets and tweets.”
When asked how exactly this department will improve efficiency, Trump responded, “We’re letting Elon and Vivek take the reins. They’ll be doing things faster, smarter, better. And they’re not afraid to have some fun with it, right?”
Dogecoin surges
Days before Trump officially announced Musk would lead DOGE on Tuesday, the Shibu Inu Dogecoin was already in overdrive, becoming one of the top performers in the crypto world.
Interestingly, the same Shiba Inu dog which is the symbol of Dogecoin is going to be the mascot of the DOGE as both Musk and Ramaswamy have confirmed by posting about it on X.
— Elon Musk (@elonmusk) November 13, 2024
#DOGEgovernment
Within hours of the announcement, the cryptocurrency Dogecoin surged briefly, climbing over 5% as fans of the meme coin celebrated its quasi-official recognition. The hashtag #DOGEgovernment trended, with some tweeting that Dogecoin had finally achieved “official government status” and memes flooded social media with “Dogefied” versions of the presidential seal.
Musk, who famously proclaimed himself “The Dogefather” on television show Saturday Night Live, hasn’t commented yet on the cheeky acronym. However, his track record of sending Dogecoin’s price skyward with a single tweet has fueled speculation about his next move. Ramaswamy, on the other hand, commented that DOGE embodies the “future-focused efficiency that our government lacks.”
Department of Government Efficiency
— Elon Musk (@elonmusk) November 13, 2024
The merch will be 🔥🔥🔥
With Musk’s usual ability to sway the market, some financial analysts speculate that Dogecoin could see even more volatility as Musk’s fans continue to tie the currency to his government venture. Dogecoin currently sits at $0.3778, but Musk's past stunts have sent it soaring as high as $0.7376. In a way, it’s fitting: DOGE has always had a touch of irony, a touch of chaos, and a loyal following like its new patrons in the government.
What Will DOGE Do?
The newly established DOGE aims to streamline U.S. government operations by reducing bureaucratic red tape, improving resource allocation, and enhancing the efficiency of public services. This advisory group is part of a broader initiative proposed by Trump to “modernize” the government’s inner workings and bring a touch of Silicon Valley innovation to Washington.
All actions of the Department of Government Efficiency will be posted online for maximum transparency.
— Elon Musk (@elonmusk) November 13, 2024
Anytime the public thinks we are cutting something important or not cutting something wasteful, just let us know!
We will also have a leaderboard for most insanely dumb… https://t.co/1c0bAlxmY0
According to statements from Trump’s team, DOGE will focus on a few key areas:
Tech-Driven Solutions: Under Musk’s leadership, the department plans to leverage artificial intelligence, automation, and data analytics to cut down on redundant processes within government agencies. This aligns with Musk’s history of using cutting-edge tech to revamp established industries.
Budget Optimization: Ramaswamy, known for his fiscal conservatism and entrepreneurial background, is expected to bring a rigorous financial approach to the government’s sprawling budget. The goal is to identify wasteful spending and redirect resources to high-impact areas, an approach likened to “venture capital for government” by Ramaswamy himself.
Citizen Experience: DOGE has stated that improving the user experience for ordinary Americans dealing with government services is a priority. The department aims to explore models similar to Musk’s “customer-first” approach at Tesla and X, which could mean quicker response times, more accessible resources, and a push for digital-first government services.
In terms of structure, DOGE will operate as an advisory body, reporting directly to the President and working closely with existing agencies to suggest reforms rather than execute them. Trump praised this non-traditional approach, stating, “Elon and Vivek will be providing ideas and strategies, not bogged down by politics. They’ll show the folks in D.C. how to move faster and think bigger.”
As the DOGE acronym continues to fuel meme culture, the question remains: will Musk and Ramaswamy really “streamline” the system, or is this yet another chapter in the saga of Musk’s knack for turning real-life responsibilities into viral moments? Only time will tell if the Department of Government Efficiency will cut red tape or only give us more memes.
