Elon Musk Resigns from His Government Role— What’s Next for DOGE and Dogecoin? Analysis 👇 $DOGE
We have all heard the news already – Elon Musk has officially stepped down as head of the U.S. Department of Government Efficiency (DOGE) under the Trump administration, ending his 130-day tenure.
🔍 His departure raises questions about the future of the DOGE and possible ripple effects on Dogecoin, the meme cryptocurrency Musk has famously championed.
🏦 What’s Next for the DOGE Department?
DOGE was created to cut government waste and bureaucracy, but the program has faced backlash due to mass layoffs and controversial reforms. Following Musk’s exit, the department is expected to be absorbed into other federal innovation arms, with a likely focus on tech-related streamlining. .
🐶 Will This Affect $DOGE?
Musk has been a high-profile backer of Dogecoin, frequently tweeting about it and influencing its price. Since his resignation, Dogecoin has shown increased volatility, highlighting its sensitivity to Musk’s public activity. While short-term fluctuations are likely, any long-term impact will depend on Musk’s future involvement with the cryptocurrency.
Musk stated he’ll now refocus on his core ventures — Tesla, SpaceX, and xAI. Investors had expressed concern that his political involvement was distracting from business performance, particularly amid slumping Tesla sales in Europe and China. Markets responded positively to his return, with Tesla shares showing a rebound after the announcement.
