Memecoins Soar After US Department Launch

Four memecoins, named after the new US Department of Government Efficiency, have seen staggering growth. One skyrocketed by 556%, another by 298%, the third by 210%, and the fourth by 65%. The Department of Government Efficiency memecoin, featuring a Shiba Inu dog mascot, hit a market cap of $342 million, surging 90.6% in one day to reach $0.402.

Meanwhile, Dogecoin (DOGE), also linked to Elon Musk, rose 20%, reaching $0.43 following Musk’s appointment to the department.

The Department of Government Efficiency, created by Trump, aims to reduce spending and bureaucracy while ensuring full transparency. Crypto analyst Ali Martinez forecasts that, if Trump wins, Dogecoin could increase 20-100 times in value.