As a part of assigning roles in his new administration, President Donald Trump has appointed Elon Musk, along with entrepreneur Vivek Ramaswamy, to lead the newly formed Department of Government Efficiency, DOGE, a name that resembles Musk’s favorite cryptocurrency Dogecoin.
This move, combined with Trump’s victory, has managed to attract a large number of investors to the crypto market as Bitcoin surged to its all-time high of $93,434.36 and $DOGE reached $0.42, the highest in the last three years. Musk and Trump are now creating long-term plans that extend through 2026.
Let’s get into the key developments under DOGE, and check how this will elevate the economy of U.S. soil and the cryptocurrency market. Additionally, we will get into the timeline of the DOGE mission and its influence on the future price of $BTC and $DOGE.
DOGE’s Motto: What to Expect from Department of Government Efficiency?
In his statement, Donald Trump said the Department of Government Efficiency will provide advice and guidance from outside of Government and will partner with the White House and Office of Management & Budget. This collaboration is expected to slash unnecessary regulations, cut excess spending, and restructure federal functions.
Donald Trump called the initiative “the Manhattan Project of our time”, and Elon Musk added fuel to it by stating that DOGE will “send shockwaves through the system and anyone involved in Government waste, which is a lot of people!’
Whether this effort will make the results as expected is a question posed by the public, as there is still ambiguity about how this will function. However, Vivek Ramaswamy has released a whitepaper that outlines legal tactics for the president to eliminate specific federal agencies, and if it is enacted, we can expect various layoffs and the implementation of new bureaus and economic plans.
DOGE Mission’s Timeline Till 2026 and Its Impact on the Crypto Market
Trump plans to conclude the DOGE initiative by July 4, 2026, when the nation will celebrate the 250th anniversary of the signing of the Declaration of Independence. Along with this mission, various plans and events are leading up to the United States Semiquincentennial, and crypto enthusiasts mark this date as the peak of this bull market cycle.
At present, $BTC is trading with a price of around $90K per coin, and $DOGE is around $0.39, a short correction from the surge. Crypto price experts consider this as a dip and expect the price to move up again. Along with the upcoming plans, these coins are expected to keep the upward momentum till 2026.
What are the Ongoing Developments Regarding DOGE?
Donal Trump arrived near the Capitol Wednesday, to address the House Republicans and then meet Joe Biden for an Oval Office session. The traditional meeting will mark a formal and peaceful handoff of power. Although not expected to join the White House programs, Elon Musk is also traveling with Trump, and he will participate in discussions conducted on Trump’s Florida Estate, related to the transition from Biden’s.
During Biden’s administration, there were various tensions between Elon Musk and the U.S. Government, particularly over Free Speech on Social Media, Tesla’s exclusion from the support given to the EV industry, and the regulatory issues with SpaceX. While the Department of Government Efficiency (DOGE) roadmap is unclear, we can expect policies regarding these issues in favor of Elon Musk.
Another major improvement expected is the usage of $BTC or $DOGE as payment options, including in Government-based transactions. There is a strong chance for the newly formed government to implement this rule, which will further push the market up.
There are numerous anticipations regarding the new administration about the crypto market, and let’s watch the moves of Elon Musk and Donald Trump closely to find out what will happen next. Finally, as an insight from the historical price movements, no stock will go up forever, and as a volatile market, be prepared to witness potential fluctuations.