Dogecoin is surging in value since Donald Trump won the presidential election. The cryptocurrency, whose mascot is a super-cute dog that muses things like “much wow,” has more than doubled since Election Day.

Dogecoin shot higher on Tuesday night after President-elect Donald Trump formally announced the creation of the Department of Government Efficiency.

Musk and Vivek Ramaswamy were appointed by Trump to lead DOGE, which will function as an advisory committee outside of the government.