Dogecoin surges over 10% after Trump names Musk, Ramaswamy to lead newly formed Department of Government Efficiency (DOGE)

Dogecoin surged more than 10%, reaching $0.3869 in early Asian trading on Wednesday, following a statement from U.S. President-elect Donald Trump. Trump announced that Elon Musk and former Republican presidential candidate Vivek Ramaswamy would lead the newly created Department of Government Efficiency (DOGE), a nod to Musk’s favorite cryptocurrency, Dogecoin.