Elon Musk Clarifies: Dogecoin Not Involved in Government’s D.O.G.E. Initiative
Speculation surrounding the potential involvement of Dogecoin (DOGE) in the U.S. Department of Government Efficiency (D.O.G.E.) came to an end Sunday, as Elon Musk confirmed there are no plans to incorporate the memecoin into any government-related operations.
“There are no plans for the government to use Dogecoin or anything,” Musk stated during a speech at the America PAC town hall held in Green Bay, Wisconsin.
Musk explained that while the department’s name originated from a suggestion on social media, it was never meant to imply a connection to the cryptocurrency. “I was going to call it the Government Efficiency Commission, but that sounded boring. Then the internet said it should be the Department of Government Efficiency—and I thought, the internet is right,” Musk said.
The memecoin saw a minor decline following the announcement, falling 3.5% over the past 24 hours, in line with the broader crypto market downturn.
Though never officially endorsed, Dogecoin saw a brief surge in interest when the official D.O.G.E. website displayed the DOGE logo for a few hours following President Trump’s inauguration—further fueling speculation that the token might play a role in the new agency.
Since its launch in January, the D.O.G.E. initiative has reportedly saved taxpayers approximately $130 billion, translating to an average of $840 per individual, by streamlining federal expenditures and eliminating inefficiencies in spending.
Despite the early rumors, Dogecoin remains outside the scope of this government initiative—at least for now.
