While President Donald Trump‘s inauguration on Monday introduced a new Department of Government Efficiency, the anticipated boost to Dogecoin (CRYPTO: DOGE) and related parody tokens failed to fully materialize.
This unexpected reaction suggests the complex relationship between meme coins and real-world political events, suggesting the market isn’t always predictable even when seemingly direct connections exist.
What Happened: Trump’s speech, which detailed the need for a “brand-new Department of Government Efficiency,” led to the formal executive order establishing it, headed by Elon Musk.
The move was intended to convey a commitment to streamlining federal operations.
What’s curious though, is that the department’s website displayed a Dogecoin logo on Tuesday, despite having no clear connection to the actual meme coin, which is a very confusing move to some observers.
This announcement did not trigger the expected surge in Dogecoin’s value.
Traditionally, any mention of “DOGE” in this kind of context …
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