In the past few days, the cryptocurrency world has been shaken by a piece of news - Elon Musk suddenly publicly "distanced himself" from Dogecoin, causing the price of this "internet celebrity coin" to plummet. The situation traces back to the newly established "Government Efficiency Department" by the Trump administration. No one expected that this department, whose abbreviation coincidentally matches that of Dogecoin, would become the trigger for the turmoil in the cryptocurrency market.

On March 31, Dogecoin suddenly plummeted by 4%, wiping out all the gains from the previous week. Just when investors were puzzled, Musk made a bold statement at a municipal meeting in Wisconsin: "The Trump team never intended to use Dogecoin!" As soon as this was said, holders of Dogecoin panicked. It turned out that the newly established government agency's English abbreviation happened to be D.O.G.E., which coincidentally matched the Dogecoin code DOGE, leading to a major blunder.