In the past two days, the cryptocurrency world has been stirred up by a message — Musk suddenly publicly "distanced himself from Dogecoin", causing this "internet celebrity coin" to plummet in price. The matter dates back to the newly established "Government Efficiency Department" by the Trump administration. No one expected that this department, whose acronym coincidentally matches Dogecoin, would become the trigger for the turbulence in the crypto market.

On March 31, Dogecoin suddenly fell by 4%, wiping out all the gains from the previous week. Just as investors were puzzled, Musk made a bold statement at a municipal meeting in Wisconsin: "The Trump team has no intention of using Dogecoin!" As soon as these words were spoken, holders of Dogecoin were collectively thrown into a panic. It turns out that this newly established government agency's English acronym happens to be D.O.G.E., coinciding with the Dogecoin code DOGE, leading to a major mix-up.