🚀🚀Elon Musk's DOGE Project Deeply Affects Crypto Markets 🚀🚀

Elon Musk has established a new government efficiency unit called Dogecoin (DOGE). This initiative aims to control government overspending and combat inflation by reducing the market appeal of some cryptocurrencies. Musk aims to make public finances more sustainable with this project. The DOGE department will develop various policies to strengthen the state's fiscal discipline and increase operational efficiency. Elon Musk plans to make radical reforms in government operations by leading this initiative together with Vivek Ramaswamy.

Musk's statements on the social media platform X have sparked different reactions among crypto investors. While some see this as a buying opportunity, others expressed concerns about the future of cryptocurrencies. This week, the crypto market fell to $3.33 trillion, while Bitcoin fell 1.9% to $95,000. During the same period, Dogecoin also fell to $0.34, resulting in a general loss of value in the markets.

Factors such as Musk's support for Donald Trump and Bitcoin's appreciation after Trump's victory were also important factors affecting market dynamics. Controlling inflation could lead to a loss of value in some cryptocurrencies.

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