Elon Musk Cleared Up Dogecoin's (DOGE) Role in the Department Of Government Efficiency (D.O.G.E)

Last weekend, tech mogul and Dogecoin (DOGE) patriot Elon Musk was asked if the top dog meme coin will be implemented in any governmental structures.

Elon Musk has been teasing the Department Of Government Efficiency (D.O.G.E), a new branch of cost-effectiveness that’s been established after Donald Trump’s return to the White House.

Recently, the tech mogul was asked if the top dog meme coin will be implemented in any governmental structures. “There are no plans for the government to use dogecoin, as far as I know”, – exclaims Musk, adding that “they happen to be very similar names, but they are two very different things, we’re literally just trying to make the government 15% more efficient”.

Elon Musk: "There are no plans for the government to use dogecoin or anything.I was going to call it Government Efficiency Commission but that's a super boring name. Then the internet said it needs to be Department of Government Efficiency. I was like Internet is right."

Those plans were known for a few months now, and they started with the rumors of the new administration opening up a branch specialized in governmental cost-effectiveness.

However, there was a segment of the crypto community who believed that the rumors of Dogecoin (DOGE) being used by the Department Of Government Efficiency were true.

Sadly for the members of the DOGE Army, the chances of the coin being used in any governmental programs are slim to none, despite the Department’s name being a close derivative of the meme coin.

Those facts were recently illuminated by Elon Musk himself, who responded to a question regarding the plans for integrating Dogecoin (DOGE) in the Department Of Government Efficiency (D.O.G.E).

The new branch of cost-effectiveness is being established after Donald Trump’s return to the White House, and the rumors for its creation began to swirl in March of 2024.

It is being reported by the DailyCoin that a part of the crypto community was convinced that the coin will be used in the Department Of Government Efficiency, or that the Department is actually a plot to use Dogecoin (DOGE).

But according to Elon Musk, who is also the CEO of SpaceX and X, there are no plans for the government to use cryptocurrencies.

“There are no plans for the government to use dogecoin or anything. I was going to call it Government Efficiency Commission but that’s a super boring name. Then the internet said it needs to be Department of Government Efficiency. I was like Internet is right,” – adds the tech mogul.

Why DOGE Army Lashed Out On Musk

Last weekend, tech mogul and Dogecoin (DOGE) patriot Elon Musk was asked if the top dog meme coin will be implemented in any governmental structures.

“There are no plans for the government to use dogecoin, as far as I know”, – exclaims Musk, adding that “they happen to be very similar names, but they are two very different things, we’re literally just trying to make the government 15% more efficient”.

Elon Musk: "There are no plans for the government to use dogecoin or anything.I was going to call it Government Efficiency Commission but that's a super boring name. Then the internet said it needs to be Department of Government Efficiency. I was like Internet is right."

Denying any relation to the original meme coin in this conference, the explanation from Elon Musk received mixed reactions on X, previously known as Twitter. For instance, crypto enthusiast Alpha Doge was humbled that Dogecoin remained separate from the United States government, as “decentralization wouldn’t be possible if that was the case”.

However, there was a group of infuriated DOGE Army members who were much more harsh: “Elon betrayed the DogeCoin community. Simple as that!”, proclaimed one Dogecoin (DOGE) activist, while others simply questioned if Elon Musk can fix the issue of the government not actually using Dogecoin’s Proof of Work blockchain.

Dogecoin’s Next Move: Bounce Or Flop?

Lately, Dogecoin’s (DOGE) price was pushed back below $0.20 by the crypto bears, trashing several significant support levels along the way. With a 9% downswing over the past 7 days, the top dog coin will have to lick its wounds after a month-long downward spiral, crunching up 17% of the price of DOGE.

On a brighter note, the mainstream meme coin’s technical setup doesn’t scream about a full-on bear takeover – quite the opposite. Judging by Trader Tardigrade’s 4-hour Dogecoin (DOGE) price chart analysis, a falling wedge pattern suggests that Dogecoin could use the $0.16 – $0.165 as bounce back floor.

#Dogecoin 4-hour Heikin Ashi chart:❇️ Falling Wedge on Support❇️ RSI Oversold$Doge could bounce from this level 🚀

Aside from the falling wedge pattern, which is used