The rise in Dogecoin, which Elon Musk openly supports, is unstoppable. The biggest meme coin has increased by 280% in the last month and 150% in the last week, and has exceeded $0.4. DOGE broke its historical record in the 2021 bull run and became $0.74.

The Elon Musk effect seems to continue…

The countdown seems to have begun for the “Public Efficiency Department”, also known as DOGE, which Elon Musk, one of Dogecoin’s biggest supporters, plans to establish in order to reduce government spending and provide savings.

Musk has particularly criticized the point that government spending has reached in Trump’s rallies and said that a “Public Efficiency Department” should be established.

The fact that the name of this department, which Musk stated, is DOGE and that the famous businessman continues to openly support Dogecoin, is also seriously increasing this meme coin.

What will DOGE do?

So what will the “Office of Public Efficiency” or DOGE, which Musk proposed to establish and is seen as one of the biggest factors in Trump’s election win, do?

As we mentioned, the main goal of the institution will be to reduce public spending.

According to the news in The Hill, the Office of Government Accountability has more than 5200 suggestions for savings for federal institutions. If all of these suggestions are implemented, the savings could reach up to 210 billion dollars.

In addition to federal institutions, it is aimed to achieve savings of nearly 150 billion dollars in 10 years through health reform. However, some of the suggestions made here need to be passed by Congress.

Reducing the workforce along with the use of artificial intelligence is also among the targets. In addition, a comprehensive review will be launched for programs in old institutions and unnecessary spending and positions will be eliminated.

The US state debt has reached the 36 trillion dollar limit due to excessive spending in recent months.