Elon Musk Is Upending Crypto Again: Is D.O.G.E. the Next Dogecoin?
Elon Musk has once again grabbed the market’s attention with his latest post about the Department of Government Efficiency (D.O.G.E.). In a social media post,
Tesla's CEO said he wants to reduce federal government spending, which he called a "big mess."
This has caused a stir among crypto enthusiasts, especially since the acronym D.O.G.E. is similar to the name of the popular meme coin Dogecoin.
What is the Directorate of Government Efficiency (D.O.G.E.)? After Donald Trump won the election,
There is a focus on this management, which aims to reduce government spending and make operations more efficient and at lower costs.
The issue got more interesting after Trump appointed Musk and Vivek Ramaswamy to manage the project.
This has people discussing the impact of these events on the crypto market.
The administration said the federal government spends 80 percent of its $100 billion IT budget on expensive, hack-prone legacy systems.
Mask commented on the topic
“It’s time to clean up this big mess,” he said. Musk’s impact on Dogecoin Due to the similarity of the management’s name to the Dogecoin currency,
There has been a lot of discussion in the crypto community. Musk is known for his support of DOGE, which has recently driven up its price.
But today the price of the coin fell by more than 5% with a general collapse in the crypto market.
However, experts are optimistic and believe that Dogecoin could reach $1.05 soon.
