Dogecoin, the popular meme coin, has exploded with a 113% surge in value after President-elect Donald Trump announced a key admin role for Elon Musk.Elon Musk has a long history with Dogecoin, and his influence has played a significant role in the coin's price increase.Incoming President Donald Trump has announced the creation of the Department of Government Efficiency (DOGE), headed by Elon Musk and Vivek Ramaswamy.There are speculations that Dogecoin may see further price increase, with analysts targeting $0.70 in the short term and $3.00 in the long term.