 Dogecoin price jumps 13% in minutes on official US DOGE website launch 
2025-01-21
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Dogecoin DOGEUSD jumped 13% in 15 minutes following the announcement of the official website launch of the US Government Efficiency Department (DOGE), breaking its short-term downtrend. 
D.O.G.E’s Dogecoin logo propels DOGE price
The rise in DOGE’s price follows developments around the Elon Musk-led agency Department of Government Efficiency (DOGE). The DOGE, aimed at cutting government spending and streamlining regulations, launched its official website on Jan. 21.
The website features the Dogecoin logo at the center of the page. The .gov website, which states that it is the US government’s official website, also shows the department’s title, a dollar sign, and the slogan “The people voted for major reform.”
During his inauguration speech, President Trump said his administration will establish the Department of Government Efficiency to “restore competence and effectiveness to our federal government.”
He then issued an executive order establishing the department after the inauguration ceremony. 
DOGE price was down as much as 10% on the day before making a U-turn, rising as much as 20% from an intra-day low of $0.33 on Jan. 15 to set a swing high at $0.40.
A similarly-named token, Department Of Government Efficiency (dogegov.com) (DOGE), is also rallying, up 35% over the last 24 hours. 
Analysts suggest that this event boosts Dogecoin’s visibility and its perceived value, as the logo’s use on such a platform, even humorously, further legitimizes Dogecoin.
The trend was further amplified by social media, where users expressed their surprise and amusement, contributing to the viral spread of the news.
“@DOGE official website is now live. It’s using the $DOGE logo on their website,” said trader Cas Abbe in reaction to the website’s launch.
Crypto YouTuber CryptoRover shared similar sentiments saying, “The memecoin madness continues. This will be the biggest bull market of our lives.”
DOGE’s bull flag points to new all-time highs
Dogecoin has been a focal point for speculative trading since early November 2024, with price action and the technical setup indicating a significant upward movement from current levels.
The chart below suggests an impending breakout from a bull flag, which could lead to a massive move upward.
A bull flag is a bullish continuation setup that forms after the price consolidates inside a down-sloping range following a sharp price ascent. 
The pattern will resolve after the price breaks above the upper trendline of the flag at $0.37 and rises by as much as the previous uptrend’s height. This puts the upper target for DOGE price at $1.61, marking a 340% price uptick for the memecoin. 
DOGE’s weekly relative strength index is still in the positive region ay zone at 62, suggesting that the market conditions still favor the upside.
“Dogecoin is breaking out of a Trendline, and the RSI shows corresponding Bullish momentum,” technical analyst Trader Tardigrade pointed out in response to DOGE’s latest price action.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.