DOGE Pumps as Traders Bet on Elon Musk's Trump Proximity

Elon Musk is making headlines again with his continued playful remarks about Dogecoin, driving its price upward as the election nears.

What’s the Scoop?

• What is D.O.G.E.?: The Department of Government Efficiency (D.O.G.E.) would aim to cut wasteful government spending, enhancing fiscal responsibility in government.
• Dogecoin: Unsurprisingly, the attention on D.O.G.E. and Dogecoin’s frequent mentions have driven DOGE’s price to rise consistently as the election approaches.

Bankless Take:

Dogecoin’s price saw a notable surge today as the election entered its final stretch, and Trump's close ally Elon Musk drove conversations with his tweets aroudn the The D.O.G.E.

Musk has long been rumored to be a potential Trump government appointee, whether this newly theorized agency offers much to Dogecoin beyond a sly wink remains to be seen. That said, Musk's explicit presence in any potential Trump administration would undoubtedly signal a departure from a more aggressive tech regulatory apparatus.