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The news that the domain DOGE.com is now for sale with an eye-popping price tag of $10,420,069 has taken the internet by storm. Given that Elon Musk recently announced the establishment of his Department of Government Efficiency, which focuses on optimizing procedures and reducing wasteful spending, the timing of this listing does not seem to be coincidental. 

The irony is being pointed out by many: why would Musk, who is likely to lead the cost-cutting government agency, spend more than $10 million on a domain? His new department is specifically focused on saving money, so this ambitious sale seems like wishful thinking at best. 

The domain's pricing strategy seems to be based on Musk's past use of the DOGE name despite speculation to the contrary. Musk has frequently caused market tremors with a single tweet as the leading proponent of Dogecoin. It is possible that he could use this zeal to get the DOGE domain for his most recent project. 

However, this move is extremely unlikely given Musk's pragmatic approach to business. Conversely, discussions concerning the wider worth of meme-based branding on the current market have been spurred by the price tag actually associated with the domain. Although DOGE has become a household name due to Dogecoin's explosive rise in the cryptocurrency space, most people find it absurd to pay more than $10 million for a domain — especially one that is so closely associated with Musk's brand.

Right now, it appears that the owner of the domain is just trying to make a point. Do not anticipate a purchase anytime soon, though, given Musk's intense focus on efficiency. Even if it does not result in a billion-dollar sale, this audacious attempt has at least succeeded in making a stir of its own.

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.