One of the largest supporters of Cryptocurrency, Elon Musk has recently clarified that Dogecoin will have no connection with the new department of the US government, Segment of Executive Potency (DOGE). Elon Musk said about the Dogecoin in his speech at the united states PAC Town Hall at Inexperienced Bay, Wiconsin. He said, “There is no plan for the government to use dogcoin or any other cryptocurrency.”
Elon Musk said, no longer dogcoin will be in Doge
The statement came at a time when Shiba Inu Mascot of DogeCoin was shown in Brief in the month of February on the website of Doge Segment. This led to some people to guess that there could be a relationship between the department and the cryptocurrency. Subsequently, Dogecoin Worth increased by 14% and its market cap has reached $ 58 billion. Musk dismissed the rumor and said that the name of the department came under the name suggested from the Internet, not any cryptocurrency.
Musk said, “I wanted to call it Executive Potency Fee (Government Efficiency Commission), but the name was very boring. Then the Internet said that it should be named Segment of Executive Potency and I felt that the Internet was correct.
This statement of Musk could not make any major impact on the market. currently, Dogcoin Worth Trading at $ 3.3% to $ 0.1654 in the last 24 hours, which is in accordance with the normal trend of the Crypto Market.
What is dog?
DOGE (Segment of Executive Potency) was established in August 2024. This department is part of the attempt of President Donald Trump that is trying to reduce deduction and departmentalism in government expenses. The department claims that it has saved $ 130 billion of tax payers since its official starts in January, ie every house has saved an average of $ 840.
Elon Musk’s role in dog
The role of Elon Musk in Doj is also being questioned. The White House says that Musk is working as a senior advisor, but he does not have the right to make a policy. At the same time, Trump has described Musk as the leader of this department. Musk has also said that they are not taking any compensation for this role.
DOGE is currently facing several cases, where some lobists and legends have challenged its spending decisions. Critics say that this methodology of the department is weakening public service, while Sapotors believe that this step is an essential step towards government efficiency.
Despite all this, Musk has made it clear that Doge Segment has no relation with Dogecoin and no cryptocurrency will be used in future.
Conclusion
Elon Musk clearly stated that Dogecoin has no relation in the DOGE department and will not be used in future also. However, the name of the department was inspired by the Internet, it spread rumors that there could be some links of cryptocurrency. The Doge Department aims to reduce government expenditure and increase efficiency.
