President Donald Trump’s inauguration on Monday introduced the Department of Government Efficiency, led by Elon Musk, but the anticipated boost to Dogecoin failed to materialize. Dogecoin initially fell 5% before recovering, aligning with a broader market decline that included a 3% drop in Bitcoin. The department’s website displayed a Dogecoin logo, which confused observers due to the lack of an official connection to the coin. The market's reaction indicates that investors were not strongly influenced by indirect links between Dogecoin and the Trump administration.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02President Donald Trump's inauguration on Monday introduced the Department of
00:06Government Efficiency led by Elon Musk, but the anticipation boost to Dogecoin
00:11failed to materialize. Dogecoin initially fell 5% before recovering,
00:15aligning with a broader market decline that included a 3% drop in Bitcoin.
00:19The department's website displayed a Dogecoin logo,
00:22which confused observers due to the lack of an official connection to the coin.
00:26The market's reaction indicates that investors were not strongly influenced
00:29by indirect links between Dogecoin and the Trump administration.
00:32For all things money, visit Benzinga.com slash GSTV.