Elon Musk Dashes Hopes of Dogecoin (DOGE) Becoming Part of the U.S. Department of Government Efficiency (D.O.G.E.)

Faint hopes of Dogecoin (DOGE) becoming part of the U.S. Department of Government Efficiency (D.O.G.E.) were dashed on Sunday as department figurehead Elon Musk dismissed any plans to incorporate the cryptocurrency.

Elon Musk has dashed faint hopes of Dogecoin (DOGE) becoming part of the U.S. Department of Government Efficiency (D.O.G.E.).

Speaking at the America PAC town hall in Green Bay, Wisconsin, on Sunday, Musk dismissed any plans for the department to use crypto.

“There are no plans for the government to use dogecoin or anything,” he said.

He was also going to call it Government Efficiency Commission but that’s a super boring name. Then the Internet said it needs to be the Department of Government Efficiency. I was like the Internet is right.”

🚨 ELON MUSK: "There are no plans for the government to usually 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." #ElonMusk #dogecoin #DOGECoin

Musk's comments come amid speculation about Dogecoin's role in D.O.G.E. following the appearance of the cryptocurrency's iconic Shiba Inu mascot on the department's website in February.

The appearance, which was later removed, had fueled rumors of a crypto tie-in and triggered a 14% surge in Dogecoin's price, pushing its market cap to $58 billion.

However, Musk's statement that there will be no DOGE in D.O.G.E. seems to have had little impact on the market.

Dogecoin is down 3.3% in the past 24 hours, trading at $0.1654, continuing the broader trend.

What Is D.O.G.E.?Founded in August 2024, the Department of Government Efficiency is a key part of President Trump's effort to cut spending and shrink bureaucracy.

Since its official start in January, it claims to have saved taxpayers $130 billion, or an average of $840 per household, by slashing budgets, eliminating jobs, and scaling back programs.

But its actions have been controversial, leading to multiple lawsuits from advocacy groups and lawmakers seeking to challenge D.O.G.E.'s cost-cutting measures.

The agency's actions have hit agencies like USAID, CFPB, and SSA the hardest, while programs focused on climate change, scientific research, and diversity have also been scaled back.

Elon Musk's Position in D.O.G.E.Elon Musk's position within the agency is a subject of contention.

While the White House maintains that he is serving as a senior advisor without policy authority, Trump has publicly referred to him as the leader of the department.

Musk himself has stated that he is not receiving any compensation for his involvement.

D.O.G.E. is currently facing several legal challenges over its sweeping cost-cutting measures.

Critics argue that the agency's restructuring efforts are undermining critical public services, while supporters hail it as a much-needed move toward government efficiency.

For now, despite the name, Dogecoin remains separate from D.O.G.E., and as Musk has made clear—there will be no DOGE in D.O.G.E.