Elon Musk has put to relaxation persistent hypothesis linking Dogecoin (DOGE) to the newly fashioned US Division of Authorities Effectivity (D.O.G.E.), clarifying that the company has no connection to the meme-based cryptocurrency. Talking at a city corridor hosted by his America PAC in Inexperienced Bay, Wisconsin, Musk stated the similarity in naming was coincidental and pushed by public enter, not by any intention to combine the digital asset into authorities operations.
“The names are related, however they’re doing two various things,” Musk defined. “So, the truth is, I used to be going to name it the Authorities Effectivity Fee however that’s a brilliant boring identify. Then the web stated it must be the Division of Authorities Effectivity. I used to be like Web is true. So we modified the identify from Authorities Effectivity Fee to Division of Authorities Effectivity however there aren’t any plans for the federal government to make use of Dogecoin or something, so far as I do know.”
There Is No Dogecoin In D.O.G.E.
The clarification comes amid ongoing rumors and social media hypothesis that DOGE may play a task within the operations of D.O.G.E., a semi-governmental physique tasked with streamlining federal expenditures and eliminating bureaucratic inefficiencies. The company has reported estimated financial savings of $130 billion since its official launch in January, translating to a median of $840 per taxpayer, in line with inner knowledge.
Musk’s naming of the division—whether or not by design or coincidence—has confirmed consequential in crypto markets. Dogecoin surged within the months following D.O.G.E.’s casual announcement in August 2024, fueled by hopes that the token may be adopted in some capability by the company. The impact was additional amplified when, in a symbolic gesture, the D.O.G.E. web site briefly featured a Dogecoin emblem within the days following Donald Trump’s 2025 inauguration, an incident that lent non permanent credibility to the speculative hyperlink between the company and the token.
Nevertheless, Musk’s feedback on Sunday on the city corridor seem definitive. “There aren’t any plans for the federal government to make use of dogecoin or something,” he reiterated in an unambiguous dismissal of the speculation.
The denial coincided with a modest retreat in DOGE markets. The token is down 3.8% over the previous 24 hours, in keeping with broader declines throughout the crypto sector in gentle of US President Donald Trump’s “Liberation Day.” Although no formal ties between Dogecoin and the federal government have ever been substantiated, the token’s latest rally—up practically 70% since August—has been partially attributed to the D.O.G.E. narrative and Musk’s ongoing public help for Dogecoin in different contexts.
At press time, DOGE traded at $0.16.
Featured picture from YouTube, chart from TradingView.com
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