Elon Musk ‘DOGE Department’ Mention on Joe Rogan Podcast Sparks 6% Dogecoin Rally

Dogecoin surged 6% after Elon Musk hinted at a “DOGE” department aimed at cutting government inefficiencies, reviving investor interest and boosting trading volumes.

Dogecoin (DOGE), the popular memecoin inspired by the Shiba Inu dog breed, saw a sharp rise in its price following a casual mention by Elon Musk on Joe Rogan’s podcast. The cryptocurrency surged over 6% within 24 hours, topping the daily gainers list and climbing to a trading price of $0.1621. This uptick in DOGE’s value marks a reversal from its recent downward trend, bringing the token’s monthly gain to an impressive 47%.

Musk’s recent commentary, referring to a “Department of Government Efficiency” (DOGE) he might consider establishing, immediately caught the attention of Dogecoin enthusiasts and traders. The “DOGE Department,” as Musk humorously referred to it, aims to streamline and simplify federal bureaucracy, a concept he believes will curb the overload of unnecessary regulations.

During his conversation with Joe Rogan, Musk described the burdensome nature of federal bureaucracy: “Eventually, you get to the point where everything’s illegal. You can’t get anything done.” Musk’s lighthearted but impactful statements on platforms like the Joe Rogan Experience podcast have historically boosted Dogecoin’s price, as seen again this week.

This latest surge in Dogecoin’s value underscores Musk’s influence over the token, which he has endorsed frequently in both serious and humorous contexts. His previous discussions on government efficiency and his repeated mentions of Dogecoin have fueled several sharp, though often short-lived, price rallies for the meme token.

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