Elon Musk is bringing Doge into the political sphere, but not in the way many might expect, rather than as a cryptocurrency or an online joke.

The CEO of Tesla and founder of SpaceX is set to co-head a new government division sharing the same name: the Department of Government Efficiency, abbreviated as D.O.G.E.

Dogecoin surged in popularity in 2021, heavily promoted by Musk and several celebrities. This “memecoin” gained such traction that its market cap skyrocketed to $45 billion by April 2021.

Musk’s support was so strong that in 2023 he temporarily replaced Twitter’s logo with the Doge dog logo, which resulted in a significant spike in Dogecoin’s value.

There’s a possibility for the return of Doge memes in 2025 when President-elect Donald Trump assumes office, as he has appointed Musk and entrepreneur Vivek Ramaswamy to take charge of the Department of Government Efficiency.

“Together, these two great Americans will lead my administration’s efforts to dismantle government bureaucracy, eliminate excessive regulations, reduce wasteful spending, and reorganize federal agencies—key elements of the ‘Save America’ initiative,” Trump’s statement on Musk’s X page read.

Following Trump’s announcement, Dogecoin’s value continued to rise on Tuesday night, seeing an increase of over 150% since Election Day.

Here’s a breakdown of Doge (the meme), Dogecoin (the cryptocurrency), and DOGE (the new government department).

Doge, the meme

The Doge meme gained traction online in the early 2010s, as detailed by Know Your Meme. Users shared close-up images of a Shiba Inu dog with a curious expression.

The Shiba Inu known as Kabosu, the face of the meme, lived to be 18 years old before passing away earlier this year.

Doge, the coin

Dogecoin was developed by software engineers Billy Markus and Jackson Palmer as a joke in 2013, eventually becoming one of the most notable “meme stocks” during the rise of retail trading in the COVID-19 pandemic. Alongside Dogecoin, stocks like GameStop and AMC also saw a surge in interest.

The GameStop stock phenomenon occurred in January 2021, driven by small-investors on Reddit, prompting a monumental short squeeze that sent stock prices soaring. Dogecoin’s rise similarly stemmed from celebrity endorsements, viral memes, and gifs.

While Snoop Dogg, Mark Cuban, and others joined in supporting Dogecoin, Musk’s enthusiasm was unmatched. He faced allegations of insider trading in June 2023 due to his various promotional antics, including changing Twitter’s logo to Doge’s image and Tesla’s decision to accept Dogecoin as payment for merchandise, as reported by the Guardian.

Musk and Tesla successfully dismissed a $258 billion federal lawsuit last August after the court found no evidence that he defrauded investors through his promotion of Dogecoin or engaged in insider trading, according to Reuters.

DOGE, the newly established ‘Department of Government Efficiency’

Musk is cited in Trump’s statement expressing that the Department of Government Efficiency will “create shockwaves within the system and target government waste, which affects a vast number of individuals!”

Trump stated that the DOGE will offer external advice and collaborate with the White House and the Office of Management and Budget to “instigate large-scale structural reforms, fostering an unprecedented entrepreneurial approach to government.”

Furthermore, Musk and Ramaswamy will be tasked with eliminating what Trump’s statement refers to as “massive waste and fraud” in government expenditures. Their efforts are expected to wrap up no later than July 4, 2026, as noted by the president-elect.

It remains uncertain whether the DOGE will function as a federal agency or operate outside of the government since establishing an official government agency requires congressional action. Trump’s description suggests that it may function more as an advisory commission rather than a formal federal agency, lacking statutory powers.