Dogecoin (DOGE) and parody DOGE tokens showed mixed moves alongside a broader market decline, even as Donald Trump officially unveiled a Department of Government Efficiency at his inauguration on Monday — bucking a historical trend for tokens to move higher on such mentions.

“To restore competence and efficiency to our federal government, my administration will establish the all-new Department of Government Efficiency,” Trump declared during his post-inauguration speech.

An executive order establishing the department was issued shortly thereafter.

The department has no official power to enforce its recommendations and is headed by technocrat Elon Musk. The website began displaying a dogecoin token logo on Tuesday, despite having no direct relation to the world’s largest memecoin.

DOGE was down as much as 5% in the past 24 hours before reversing losses, tracking a nearly 5% drop in the broad-based CoinDesk 20 (CD20) and a 3% slide in bitcoin (BTC). A parody token, meanwhile, is up 6% with the bulk of the gains during the European morning.

Musk first raised the idea of ​​DOGE in October as a non-government agency to make public spending more efficient. That has since fueled anticipation among traders that there could be more talk of “DOGE” in mainstream media and retail circles, leading to increased attention and interest in dogecoin, as a CoinDesk analysis noted in mid-October.

DOGE is not appreciated in government quarters and faces lawsuits. The National Security Counselors, a legal advocacy group, claims the committee violates the Federal Advisory Committee Act of 1972, which requires advisory groups to operate transparently.

It says the department has an unclear legal structure. Public Citizen, another watchdog, is demanding more details on how the group will operate.