Dogecoin value doubles as Trump announces government efficiency group DOGE

Dogecoin's value has more than doubled since Donald Trump won the presidential election, rising from under 16 cents to about 41.5 cents. This surge follows Trump's announcement of a new group called the "Department of Government Efficiency," abbreviated as DOGE. Elon Musk, a prominent supporter of Dogecoin, will co-lead this group alongside Vivek Ramaswamy. The group aims to provide advice to the White House and promote government reform, further fueling interest in cryptocurrencies. Overall, the cryptocurrency market has seen significant gains since the election, with Bitcoin reaching an all-time high above $92,000. Trump's support for crypto has contributed to this excitement.