Dogecoin got an added boost when Trump announced the creation of the Department of Government Efficiency (a k a DOGE), to be co-headed by former presidential candidate Vivek Ramaswamy and Elon Musk, who’s been a big Dogecoin booster.

Google search results for DOGE surged by more than 700% in the wake of the Trump announcement, and the cryptocurrency community celebrated this as a win.

Trump’s rise to becoming the talisman of the crypto industry, and naming government departments after internet memecoins, was unlikely until recently. Back in 2020, during his first turn in the White House, Trump reportedly wanted to ban Bitcoin.