Elon Musk will co-lead the Department of Government Effectiveness (DOGE)

This DOGE news comes just days after Trump was re-elected as 47^e president of the United States.

Donald Trump appoints DOGE leaders

The statement, posted on Trump's Truth Social account, promises that DOGE Department of Government Efficiency) will be at the head of the “Save America Movement”. This department will aim to streamline federal functions to reduce government spending and significantly increase operational efficiency. In his statement, Trump called DOGE “potentially 'The Manhattan Project' of our time,” comparing the new agency's goals to those of the ambitious initiative that dates back to the era of World War II.

He explained that the plan aims to dismantle excessive bureaucracy and reduce annual US government spending by $6.5 trillion.

“They will work together to free our economy and hold the American government accountable to 'WE THE PEOPLE,'” Trump said.

The president-elect also predicted that Musk and Ramaswamy's work would result in a “smaller, more efficient, less bureaucratic government” by July 4, 2026, which will mark the 250th anniversary of the Declaration of Independence. Elon Musk, known for his criticism of government waste and bureaucracy, enthusiastically supported the project.

“This will send shock waves through the system, and all the many people involved in government waste! “, a paragraph from Trump's post quoting Musk.

The billionaire entrepreneur, nicknamed the “Father of Dogecoin” (DOGE) then reposted Trump's announcement on his X account. However, he added his usual touch with the comment “Threat to democracy? No, a threat to the BUREAUCRACY! »

The acronym DOGE quickly gained attention, resonating with fans of the popular meme-based cryptocurrency, Dogecoin, which Musk has very publicly supported. Thus, in this enthusiastic climate, the price of Dogecoin rose by more than 10%. This rise was sparked by speculation that Musk's leadership of DOGE could signal future integration of the cryptocurrency into the initiative or its businesses.

To go further: Dogecoin price prediction for 2025 and 2030

As previously reported by the English-speaking branch of BeInCrypto, Musk recently hinted that he may reintroduce Dogecoin as a payment option for Tesla derivatives. This speculation also contributed to the rise in Dogecoin's price following Trump's announcement.

Meanwhile, Vivek Ramaswamy, a biotechnology entrepreneur and former Republican presidential candidate, has signaled his commitment to Trump's cause.

“We won't start off easy, @elonmusk,” Ramaswamy shared on X.

He also confirmed he would withdraw from the Ohio Senate race. This means that Ohio Governor Mike DeWine will soon be able to appoint a successor to the soon-to-be vacant seat of Senator JD Vance, the vice president-elect of the United States.

The DOGE mission under surveillance

The mission of the Department of Government Effectiveness is also subject to scrutiny by officials and critics. Economist Peter Schiff, a staunch critic of Bitcoin, notably shared his reservations, speaking about the extent of Musk and Ramaswamy's mandate.

“Good luck, guys. Remember, all you can do is propose closing federal departments and agencies. To actually close them, Congress must vote for it,” Schiff wrote.

In his post, the economist references past attempts to close agencies like the Department of Education. He noted that even Ronald Reagan's efforts to reduce federal functions fell short of structural cuts.

Although Musk's relationship with DOGE and the department of the same acronym has boosted interest in Dogecoin, analysts remain cautious. Indeed, although the billionaire's commitment tends to arouse enthusiasm for this same coin, its long-term viability will depend on concrete economic applications. For now, however, Trump's announcement has thrust DOGE—the agency like cryptocurrency—into the spotlight.

Moral of the story: Where there is a DOGE, there is a Musk.