In the much talked-about administration of Elon "Dogefather Musk in the cryptoverse, the "Department of Government Efficiency" (D.O.G.E.) has been accepted by Donald Trump in his cabinet. Let us know what effect and impact it is creating:
DOGE will be led by Vivek and Musk
During the US presidential election, Musk had revealed his intention to create D.O.G.E. At that time, most people thought Musk was joking. Anyway, this department will now be created seriously. Apart from Elon Musk, Trump has appointed Vivek Ramaswami as another leader of D.O.G.E. Vivek and Musk will oversee government expenditure and bureaucracy in this department.
Dogecoin's popularity grew
Dogecoin gained popularity thanks to Elon Musk, whose influence is evident in the cryptoverse. Dogecoin whales are also packing their bags; according to multiple reports, within a few days after Trump's victory, whales acquired over 3 billion Dogecoins, resulting in over 74k new wallets that have surfaced, further demonstrating the growing popularity of Dogecoin.
Is the DOGE's explosion prepared for ETF?
The cryptoverse may bring out new possibilities with Dogecoin. For a long time, it was thought that a DOGE spot ETF might be one, but it didn't appear to be since Dogecoin lacked the elements that the SEC deemed essential for Wall Street to have in a spot ETF. However, Gary Gensler's exit is now assured, giving a chance to launch DOGE Spot ETF.
