# DOGE Pumps as Traders Bet on Elon Musk's Trump Proximity

*Author: Kazu Umemoto*
*Published: Nov 5, 2024*
*Source: https://www.bankless.com/doge-pumps-as-traders-bet-on-elon-musks-trump-proximity*

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Elon Musk is making headlines again with his continued playful remarks about Dogecoin, driving its price upward as the election nears. 

## What’s the Scoop?
- **What is D.O.G.E.?**: The Department of Government Efficiency (D.O.G.E.) would aim to cut wasteful government spending, enhancing fiscal responsibility in government.
- **Dogecoin**: Unsurprisingly, the attention on D.O.G.E. and Dogecoin’s frequent mentions have driven DOGE’s price to rise consistently as the election approaches.

## Bankless Take:
Dogecoin’s price saw a notable surge today as the election entered its final stretch, and Trump's close ally Elon Musk drove conversations with his tweets aroudn the *The D.O.G.E*. 

Musk has long been rumored to be a potential Trump government appointee, whether this newly theorized agency offers much to Dogecoin beyond a sly wink remains to be seen. That said, Musk's explicit presence in any potential Trump administration would undoubtedly signal a departure from a more aggressive tech regulatory apparatus.

> 🤣🤣 [pic.twitter.com/2V92VgEKJS](https://t.co/2V92VgEKJS)— Elon Musk (@elonmusk) [October 29, 2024](https://twitter.com/elonmusk/status/1851279819277025796?ref_src=twsrc%5Etfw)