“Department of Government Efficiency” (D.O.G.E) is the name of the new department proposed by Elon Musk, which he discussed at a Pennsylvania town hall while supporting Donald Trump’s campaign. This announcement caused a 7% increase in Dogecoin’s price, pushing it above 13 cents for the first time since late July.

Musk emphasized that D.O.G.E would aim to optimize government spending and increase efficiency, proposing to manage the department like a corporate structure with a system of rewards and penalties.

Musk’s support for Donald Trump and the idea of creating such a department sparked interest among crypto traders, influencing Dogecoin’s price.