The Department of Government Efficiency (DOGE), announced by President Donald Trump during his inaugural address, launched its official website featuring the Dogecoin (DOGE-USD) logo. Led by Elon Musk, the agency aims to streamline U.S. government spending but shares no direct ties with the cryptocurrency. Still, retail investors seized on the connection, propelling Dogecoin to rally 11% to $0.38, according to Cointelegraph.
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Legal Storm Threatens DOGE’s Momentum
While Dogecoin enthusiasts celebrate the unexpected price jump, watchdog groups are raising alarms. National Security Counselors has filed a complaint, claiming DOGE violates federal transparency laws under the Federal Advisory Committee Act. Public Citizen is demanding clearer guidelines on how the agency operates. Kel McClanahan, the law firm’s director, stated, “DOGE must adhere to public disclosure requirements, including open meetings.”
Despite the legal turbulence, Dogecoin briefly surpassed $0.40 after the website launch, though it remains 48% below its 2021 peak of $0.73. As legal battles loom, Musk’s DOGE seems to have become a lightning rod for controversy, energizing the Dogecoin community while raising questions about the agency’s legitimacy.
At the time of writing, Dogecoin is sitting at $0.3735.
