Dogecoin (DOGE) shot up in value late Thursday after Telsa CEO and billionaire Elon Musk briefly mentioned the meme coin’s name during a town hall meeting in Folsom, Pennsylvania on Thursday.
During the event at Ridley High School, an attendee asked Musk if he would head up a new “Department of Government Efficiency.” Musk responded with a lighthearted grin, “Yeah, Doge,” eliciting cheers and applause from the crowd.
Dogecoin’s value has since climbed to $0.13 and is up more than 6.8% in the last 24 hours. Its market capitalization has also spiked to the tune of $19.3 billion, according to CoinGecko data.
Musk’s playful mention of Dogecoin wasn’t entirely out of the blue—it came just weeks after Trump pitched a new initiative for cutting what he and Musk view as governmental waste.
In September, Trump proposed an efficiency commission headed by Musk, tasked with conducting a complete financial and performance audit of the
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Author: Vismaya V
