Bull doge! Dogecoin soars as Trump announces a government efficiency group nicknamed DOGE

AP Business Writer

NEW YORK (AP) — Dogecoin is surging in value since Donald Trump won the presidential election. The cryptocurrency, whose mascot is a super-cute dog that muses things like “much wow,” has more than doubled since Election Day. The latest bump came after Trump named Tesla’s Elon Musk one of the heads of a new “Department of Government Efficiency,” which is not a government agency but does have the acronym DOGE. That’s the symbol dogecoin trades under, and it’s the latest wild move for a cryptocurrency with a history of them. Trump has embraced crypto and said he wants the United States to be the “crypto capital of the planet.”