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- Senator Joni Ernst used a Doge meme image during a Senate address to highlight government efficiency, prompting Dogecoin co-creator Billy Markus to share and react to the speech on his X account.
- Over the past week, Dogecoin has shown significant volatility, losing 7% of its value within the week and a sharp 8.04% in the last 24 hours alone.
Billy Markus, the co-creator of Dogecoin, recently took to his X account to react to an unexpected moment in the U.S. Senate where the Dogecoin meme took center stage. Markus, who is widely recognized online as Shibetoshi Nakamoto, shared a video of Senator Joni Ernst using a Doge-themed visual during a speech in Congress.
“Pretty funny to see this Doge meme IN THE SENATE,” Markus remarked, reacting to the political cameo of the popular meme.
pretty funny to see this doge meme IN THE SENATE pic.twitter.com/R2wvboJofZ
— Shibetoshi Nakamoto (@BillyM2k) January 9, 2025
During her Senate address, Senator Ernst displayed an image of the famous Doge meme, depicted as a sand-dust cloud engulfing Washington D.C., symbolizing how the Department of the Government Efficiency (D.O.G.E) operations are rapidly and inevitably spreading throughout the city. D.O.G.E. is an advisory group focused on slashing costs and regulations to create a more streamlined and efficient administration.
Led by Elon Musk and Vivek Ramaswamy, the group aims to dismantle bureaucracy and promises cuts of around $2 trillion, roughly a third of the federal government’s annual budget.
In her speech, Ernst underscored the need for greater government accountability and efficiency, emphasizing that tax dollars must not be wasted. She encouraged other senators to support the D.O.G.E. initiative, humorously adding that “Doge is inevitable.”
Dogecoin’s Volatile Week
While Dogecoin was grabbing headlines in the Senate, its price action in the crypto market has been anything but stable. Over the past week, Dogecoin has dropped by 7.82%, and as of now, DOGE is trading at $0.32, down 8% in the past 24 hours. This sharp volatility has left traders questioning the next move for the leading meme coin.
This price drop comes amid a broader discussion about Dogecoin’s relevance and future, particularly in light of Elon Musk’s recent activity on social media. Musk recently updated his profile picture on X to an avatar associated with the Pepe the Frog meme. This sparked speculation about whether the Tesla CEO and self-proclaimed “Dogefather” is shifting his interest from Dogecoin to PEPE, a meme coin inspired by the Pepe meme and launched in April 2023 by anonymous developers.
Elon Musk has long been an advocate for Dogecoin, even funding a SpaceX mission in 2021 entirely with Dogecoin. His tweets and endorsements have historically caused Dogecoin’s price to spike, underscoring his influence over the meme coin’s market performance. However, his apparent endorsement of the Pepe meme has led some to wonder if the “Dogefather” could become the “Pepefather.”
