By admin 
The price of the Department of Government Efficiency (DOGE) has surged by 116% in the last 24 hours, reaching $0.1412 as of 02:25 a.m. EST. Trading volume has also skyrocketed by 112%, hitting $30 million. This surge in price comes amid speculation that Elon Musk could be involved in Donald Trump’s future administration. Trump referred to Musk as a possible “secretary of cost-cutting,” though he clarified that Musk wouldn’t hold a formal cabinet position. There’s further speculation that Musk might head a new “Department of Government Efficiency” (DOGE), named after the popular DOGE meme coin that Musk often supports.
**Department of Government Efficiency Price Outlook**
The price of DOGE has recently come out of a consolidation phase in November, where it traded around $0.0552. Over the past few days, DOGE has experienced a sharp upward movement, which could signal a continued bullish trend.
Currently, DOGE is trading above both its 50-day and 200-day Simple Moving Averages (SMAs), with the “golden cross” at $0.0550 providing support for further price increases. The Relative Strength Index (RSI) is at 72.52, above the typical overbought level of 70. This suggests that DOGE may be overbought, which can sometimes lead to a price pullback or consolidation phase, although it doesn’t necessarily mean a reversal is imminent.
On a positive note, the Moving Average Convergence Divergence (MACD) is showing bullish momentum. The MACD line (0.0178) is above the signal line (0.0149), and the MACD histogram bars are positive, indicating strong upward movement. However, as the RSI stays high, the chance of a pullback increases, so investors should be cautious and watch for any signs of market exhaustion.