Dogecoin has been one of the biggest gainers following the election of Donald Trump last week, and it got another boost this week when the president-elect announced the creation of a new agency that carries the acronym DOGE.

Dogecoin has doubled in value following Trump's election victory and the announcement of a new DOGE-acronymed government agency to be co-led by Elon Musk, with technical analysis suggesting further upside potential despite historical patterns indicating possible corrective phases ahead.

Dogecoin, the crypto known for its dog-themed branding, has experienced a dramatic price surge of 51% over the past 24 hours, bringing its trading value to $0.43.