Why Is $DOGE Up Today?

Key Points

• DOGE price surged by over 12% today after the official D.O.G.E. website went live with Dogecoin as its avatar.
• Earlier, Elon Musk announced the Executive Order establishing D.O.G.E.

Today, Dogecoin (DOGE) recorded a significant price surge, as the official D.O.G.E. website went live with DOGE as its avatar. Elon Musk announced earlier on X that the Executive Order that established DOGE became a reality.

DOGE Price Spikes

At the moment of writing this article, DOGE is trading above $0.39, seeing a 24-hour price surge above 1.6%. Earlier, DOGE’s price spiked by around 10% in just 30 minutes.

Now, DOGE has a market cap above $57.25 billion, after a surge from around $51 billion. Following the earlier price spike, DOGE is now cooling off.

The spike in DOGE’s price came after the official website of the Department of Government Efficiency (D.O.G.E.) went live.

D.O.G.E. Goes Live

The Department of Government Efficiency (D.O.G.E.)’s official website went live earlier today and its avatar is the image of Dogecoin – this is the new Administration’s cabinet that will be led by Elon Musk and address the government’s spending in the US.

Early in the morning, Musk shared a post via X, announcing that the Executive Order that establishes D.O.G.E. is “legit.”

The executive order was released on January 20 by the US White House.

D.O.G.E. Executive Order

The executive order was released by US President Donald Trump and includes important sections regarding the purpose, definitions of terms, structure, and teams.

The executive order establishes D.O.G.E. to implement the President’s agenda by modernizing Deferal Technology and software to maximize governmental efficiency and productivity.

According to the official notes, the United States Digital Service was publicly renamed the United States DOGE Service (USDS) and was established by the US President.

The USDS administrator will begin a Software Modernization Initiative to improve:

• The quality and efficiency of government-wide software
• Network infrastructure
• IT systems

Also, the executive order displaced all prior executive orders and regulations, as they are subject to direct presidential amendment.