Elon Musk made his case for a paradigm shift in United States governance in an impassioned speech at an event in support of Republican candidate Donald Trump on Oct 17. The town hall meeting, as it was described,

Dogecoin's price surged 7% after Elon Musk mentioned "D.O.G.E." during a Trump campaign event, referring to a proposed Department of Government Efficiency.

The proposed department, abbreviated as D.O.G.E, will seek to make government spending of taxpayer money more efficient while streamlining departments that handle spending.