Dogecoin soars as Trump names Elon Musk to head new DOGE efficiency department

Wow, much bull market.

Dogecoin, the cryptocurrency whose mascot is a super-cute dog that muses things like “much wow”, has been surging in value since Donald Trump won the presidential election last week.

It is hitting the afterburners now, after Trump named Tesla’s Elon Musk as one of the heads of a new “Department of Government Efficiency”, which is not a government agency but does have the acronym DOGE.

All this makes sense and is maybe humorous for anyone who’s chronically online. For others, here’s some explanation about what’s going on:

What is dogecoin?

It is a cryptocurrency, whose value rises and falls against the US dollar based on however much people will pay for it.