“D.O.G.E. stands for the Department of Government Efficiency,” said Tesla CEO Elon Musk while speaking at a rally for Donald Trump at Madison Square Garden in New York City. Although the department doesn’t yet exist, its abbreviated name, D.O.G.E., hints at Musk’s favorite cryptocurrency – Dogecoin.

In the past 24 hours, Dogecoin has become one of the best-performing cryptocurrencies, with its price up nearly 15%, according to CoinGecko. Trading volume has surged by 40%, reaching around $4 billion for the day, as per CoinMarketCap.

Earlier, Musk noted that he does not provide advice on buying cryptocurrencies, describing his statements about Dogecoin as “innocent and sometimes playful tweets.”