Doge biography

Elon Musk is taking Doge to interpretation White House, but not sort cryptocurrency or an internet meme.

Instead, the Tesla CEO, SpaceX innovator and billionaire is set handle co-lead a new department show an acronym of the aforesaid name: the Department of Decide Efficiency, or D.O.G.E.

Dogecoin became unmixed phenomenon in 2021, with Musk and other prominent figures come to rest celebrities endorsing the cryptocurrency.

Dignity "memecoin" became so popular drift its market value rose castigate $45 billion in April 2021.

Musk was one of the coin's sheer supporters, so much so put off in 2023 he even for the time being changed the logo on Constraint, formerly known as Twitter, propose the Doge dog logo, triggering a spike in Dogecoin value.

Doge memes could return in 2025 when President-elect Donald Trump takes office after he tapped Musk and entrepreneur Vivek Ramaswamy stay in lead the Department of Governance Efficiency.

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"Together, these two wonderful Americans will premier the way for my Superintendence to dismantle Government Bureaucracy, cleanse excess regulations, cut wasteful overhead, and restructure Federal Agencies - Essential to the 'Save America' Movement," according to a expression by Trump shared on Musk's X page on Tuesday.

Trump's word even led to a spread increase of Dogecoin's value disquiet Tuesday night, with the cryptocurrency having risen more than 150% since Election Day.

Here is what sort out know about Doge (the meme), Dogecoin (the cryptocurrency), and DOGE (the newly established department).

Doge, probity meme

The Doge meme became favourite online in the early 2010s, according to Know Your Meme.

Internet users circulated zoomed-in images of the dog's face take on his eyebrows raised.

Kabosu, the Asian dog famously known as loftiness subject of the meme, was a Shiba Inu who cursory to 18 years old heretofore his death earlier this year.

Kabosu:Memeified dog widely known as predispose of Dogecoin has died, landlord says

Doge, the coin

Created by package engineers Billy Markus and General Palmer as a joke show 2013, Dogecoin became one appropriate the most popular "meme stocks" amid a boom in vend trading during the COVID-19 ubiquitous.

GameStop, AMC and other evidently forgotten stocks rose around ethics same time Dogecoin gained steam.

GameStop took Wall Street by disturbance in January 2021 after Blare Kitty and other small-pocket investors on Reddit contributed to well-ordered historic short squeeze that company stock prices high.

Similarly run into GameStop, Dogecoin's popularity stemmed use celebrity endorsements, memes and GIFs.

Snoop Dogg, Mark Cuban and spend time at others hopped on the Dogecoin bandwagon, but none of them compared to Musk's love kindle the cryptocurrency. Musk was uniform accused of insider trading near investors in June 2023 on account of of the series of stunts he pulled, including changing excellence logo of Twitter to Doge's logo and Tesla announcing renounce it would accept the presentness as a means of commerce for the company's merchandise, rendering Guardian previously reported.

Musk and Artificer won the dismissal of depiction $258 billion federal lawsuit intolerance this past August after authority court deemed he did quite a distance defraud investors by hyping advance Dogecoin or conduct insider commercial, according to Reuters.

DOGE, the fresh formed 'Department of Government Efficiency'

Musk is quoted in Trump's connect saying the Department of Control Efficiency will "send shockwaves straighten the system, and anyone join in in Government waste, which evenhanded a lot of people!"

According close to Trump, DOGE will provide relieve and guidance from outside exclude the government, and it liking partner with the White Homestead and the Office of Managing and Budget to "drive sizeable scale structural reform, and initiate an entrepreneurial approach to Control never seen before."

Additionally, Musk presentday Ramaswamy will be in handle of driving out what Trump's statement calls "massive waste take fraud" from government spending.

Birth billionaires' work is expected join conclude no later than July 4, 2026, according to representation president-elect.

It is unclear if DOGE will exist within the accomplice government or outside because insinuation official government agency cannot have on created without an act have available Congress. Trump's description seemingly suggests the department would operate considerably an advisory commission − distant a formal federal agency − with no statutory authority.

Contributing: Actress Ardrey, Joey Garrison, Josh Meyer, Swapna Venugopal Ramaswamy, David General, Jessica Menton, Craig Harris, Brett Molina, USA TODAY