Dogecoin surges after Musk’s government meme

By Zunain Balouch - Crypto Content Writer
Dogecoin
Created by Taqi Khan from BTCRead

Elon Musk hints at the possibility of taking on a vital role in a new government institution if Donald Trump wins the 2024 presidential election. In typical Musk fashion, he dropped the idea in a playful meme on X (formerly Twitter), cleverly combining cryptocurrency and politics in the reference.

The post showed what looks like an AI-generated image of Elon Musk sitting behind a desk with a Dogecoin nameplate labeled “D.O.G.E.” Specifically, the text alongside it read, “Department of Government Efficiency.” Dogecoin hit a 24-hour high shortly after Musk’s post, but as of now, it’s still trading below the peak levels seen earlier in the week.

Musk reacts to Trump’s efficiency commission proposal

Trump recently announced plans to establish a government efficiency commission. According to him, the commission will conduct a full audit of the federal government’s finances and performance to recommend major reforms. Musk shared a video of Trump’s comments, stating his thoughts: “This is badly needed.”

While he hinted at supporting the political group, he didn’t say he’d take on a formal role in the government. It’s uncertain whether Musk genuinely wants a government role or if the media’s speculation has any real substance. Trump’s remarks about Musk supposedly “agreeing” to take the position seem to be more of a lighthearted comment, suggesting Musk might not be “that busy.”

People probably meant the idea that Elon Musk is “not very busy” as a joke. Currently, Musk juggles roles as CEO of Tesla, SpaceX, and xAI while also owning Neuralink, The Boring Company, and the X social media platform (formerly Twitter).

In the past two months, Musk has caused significant controversy over X.com’s ban in Brazil, accepted a challenge to fight Venezuela’s president, Nicolas Maduro, and renewed his legal battle against OpenAI and its CEO, Sam Altman.

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Zunain is an experienced crypto writer with a passion for delivering insightful and engaging content to audiences seeking up-to-date information about cryptocurrency and finance. With several years of experience, Zunain has a deep understanding of blockchain technology, digital assets, and the intricacies of the financial market. In his spare time, he loves traveling and enjoys playing cricket, snooker, and football.
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