#DOGE Elon Musk's recent statements have significantly influenced Dogecoin's market dynamics:

1. On June 1, 2025, Musk tweeted, "This is not the end of DOGE, but really the beginning," referencing the Department of Government Efficiency (DOGE). Despite the governmental context, the crypto community interpreted this as support for Dogecoin, leading to a 4.7% price increase to $0.1423.

2. Musk acknowledged that DOGE achieved $175 billion in federal spending cuts, falling short of the $2 trillion goal. He admitted, "We've been effective. Not as effective as I'd like... but we've made progress."

3. He expressed disappointment with President Trump's recent spending bill, stating it undermines DOGE's objectives by increasing the budget deficit.

4. Musk announced his departure from the DOGE initiative to refocus on Tesla and SpaceX but indicated he would continue advising the government informally.

5. Despite his exit, Musk's influence persists. His tweet on June 1, 2025, caused a notable uptick in Dogecoin's price, demonstrating his continued impact on the cryptocurrency market.