US President Donald Trump has announced the creation of a new Department of Government Efficiency (D.O.G.E) to be led by Elon Musk and Vivek Ramaswamy, impacting Dogecoin's value and sparking interest in a possible ETF.
Musk and Ramaswamy's Appointment for D.O.G.E
US President Donald Trump has announced the establishment of the Department of Government Efficiency (D.O.G.E), which will focus on reducing unnecessary regulations and budgetary expenditures. Elon Musk and Vivek Ramaswamy will lead this initiative in collaboration with the White House and the Office of Management and Budget to implement large-scale reforms. The project is positioned as a 'patriotic mission' to enhance government transparency and efficiency.
Impact on Dogecoin Price
The announcement of the appointment led to an unexpected rise in the price of Dogecoin. Following the announcement, the cryptocurrency's price increased by 10%, with analysts projecting further growth. Prominent crypto market analyst Ali Martinez predicts that Dogecoin could reach $2.40 if current trends persist and even speculated that the price could rise to $18 with increased institutional interest.
Speculation Over Potential DOGE ETF
Speculation about a possible Dogecoin exchange-traded fund (ETF) also contributes to the growing interest in the cryptocurrency. Senior ETF analyst Eric Balchunas suggested that Dogecoin might be the next candidate for an ETF, especially after applications for ETFs for other cryptocurrencies appeared. Although there is no official application yet, fans of the currency remain optimistic, believing this could boost recognition of the digital currency.
The establishment of D.O.G.E under the leadership of Musk and Ramaswamy, along with the potential emergence of a Dogecoin ETF, could lead to significant changes in both governance and the stability of the crypto market. These events attract the attention of investors and analysts, which may influence the future development of the cryptocurrency.
