Elon Musk just crushed speculation that Dogecoin might play an official role in the U.S. Department of Government Efficiency (D.O.G.E.), despite months of crypto-fueled hype.
Speaking at the America PAC town hall in Green Bay, Wisconsin, Musk made it crystal clear: “There are no plans for the government to use dogecoin or anything.” The comment ended weeks of rumors that the memecoin could somehow tie into the agency’s work.
Musk, the figurehead of the controversial department, said he originally planned to name it the Government Efficiency Commission—until the internet stepped in. “That’s a super boring name,” he admitted. “Then the internet said it needs to be the Department of Government Efficiency. I was like, Internet is right.”
Dogecoin Mania Helped Fuel Rally after August Launch
Though DOGE was never officially part of the plan, the mere creation of the department in August triggered a mini-mania in the token. A few Dogecoin-themed projects launched overnight, and the coin itself entered a multi-month rally.
Adding fuel to the fire, the department’s official website briefly featured the Dogecoin logo the day after Trump’s inauguration—something that didn’t go unnoticed by traders.
D.O.G.E. Reports $130B in Government Savings
Despite the memecoin confusion, the department itself has racked up some serious numbers. Since its formal start in January, D.O.G.E. has reportedly saved taxpayers $130 billion by streamlining government spending—equating to about $840 per household.
DOGE Slides as Musk Comments Cool Enthusiasm
Dogecoin fell 2.6% in the past 24 hours, part of a broader market decline. But Musk’s latest remarks may have added extra weight to the drop. DOGE had seen speculative interest spike in hopes of government involvement. Now that’s off the table—for now.
Still, Dogecoin remains one of the most-watched memecoins, with a $12B market cap and active support from Musk on social media. And with upcoming catalysts like the 2025 Bitcoin halving, some traders aren’t ruling out another surprise run. Just don’t expect it to come from Washington.
At the time of writing, Dogecoin is sitting at $0.1620.
