Join Our Telegram channel to stay up to date on breaking news coverage
Dogecoin (DOGE) surged more than 8% in the last 24 hours after Elon Musk unveiled plans for a proposed “Department of Government Efficiency” (D.O.G.E),
The billionaire founder of SpaceX and Tesla, speaking at a Pennsylvania town hall, shared his vision for the department, boosting DOGE’s price to $0.1343 as of 2:40 a.m. EST, its highest level since late July, according to CoinMarketCap.
The idea for the department was originally proposed by Donald Trump, who said he would appoint Musk to lead it if he wins next month’s presidential election
Musk Outlines Plans For Proposed D.O.G.E The proposed governmental department, abbreviated D.O.G.E., will aim to optimize government spending of taxpayer money. It will also try to streamline departments that handle spending.
During the town hall, the tech mogul suggested the proposed department could operate in the same way as a company, incentivizing the department’s top performers while penalizing anyone who fails to deliver results.
as far as $DOGE betas go, i expect 'Department of Government Efficiency' (the ETH memecoin) to also catch a bid off strong Dogecoin performance
especially since Elon is literally memeing the 'Department of Government Efficiency' concept every other day
there seems to be a… https://t.co/ySDg8IsLqM pic.twitter.com/V8boPiZeAE
— Unipcs (aka 'Bonk Guy') 🎒 (@theunipcs) October 18, 2024
Only POPCAT Outperformed DOGE Dogecoin was also able to outperform almost the entire crypto market during the past 24 hours. Solana meme coin Popcat (POPCAT) was the only crypto to post a larger 24-hour gain than DOGE after its price rose over 13%.
Dogecoin extended its weekly gain, and has now surged 24% over the last 7 days.
When it comes to the rest of the crypto market, the total valuation for the digital asset sector rose just a tad. But funding for some presale cryptos is surging amid debate over whether a meme coin supercycle is beginning.
Among standout performers is Pepe Unchained (PEPU), probably the most successful ICO of the year after raising more than $20.4 million.
Related Articles: Pepe Unchained Shatters $20M Mark In Presale, Unveils New Updates Donald Trump’s World Liberty Financial Token Sale Of WLFI Falls Flat Amid Website Crashes Turbo Price Prediction – Will $TURBO Recent Rally Push It to a $1 Billion Market Cap? Best Wallet - Diversify Your Crypto Portfolio
Our Rating
Easy to Use, Feature-Driven Crypto Wallet Get Early Access to Upcoming Token ICOs Multi-Chain, Multi-Wallet, Non-Custodial Now On App Store, Google Play Stake To Earn Native Token $BEST 250,000+ Monthly Active Users
Join Our Telegram channel to stay up to date on breaking news coverage
According to a prominent trader, the Department Of Government Efficiency (D.O.G.E) token is following the typical meme coin trajectory—major rallies followed by deep corrections.
What Happened: In a post on X on Tuesday, trader Unipcs highlighted that despite facing heavy criticism after a 90% drop from its $500 million peak, this pattern is normal and D.O.G.E is primed for a comeback.
The key to meme coin survival is strong narratives, an engaged community, and an active development team, Unipcs argues.
D.O.G.E is uniquely positioned as the “official meme coin” of Trump’s administration, representing the Department of Government Efficiency. T
his branding has given it significant media coverage and backing from figures like Elon Musk.
Its crash was worsened by the launch of the Trump (CRYPTO: TRUMP) token, which absorbed liquidity.
However, now that election-related sell-the-news catalysts are behind us, D.O.G.E is once again a pure meme play with strong upside potential.
Also Read: Market Skeptical Of DOGE Hype, Questions Elon Musk’s Execution, Bernstein Says
What's Next: Unipcs notes that the recent market crash was the largest liquidation event in crypto history, wiping out $10 billion in positions in 24 hours.
Despite this, he believes the bull run isn't over.
With a pro-crypto U.S. administration and renewed risk appetite, meme coins could be set for a massive resurgence. He advises to stay patient—recovery is possible, but traders must navigate it wisely.
Read Next:
Meme Coin Index ‘Doge Jones’ Launches App Including DOGE, SHIB, BONK Image: Shutterstock
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
Elon Musk-led Department of Government Efficiency has secured access to the Centers for Medicare and Medicaid Services, according a report Wednesday. The extent of the access and the systems involved are yet to be clarified.
What Happened: DOGE representatives have been granted access to key payment and contract systems, reported Wall Street Journal. However, the CMS has not provided any clarification on this matter.
Musk said on X that “big money fraud” was taking place at the CMS on Wednesday in response to another user sharing the story..
The CMS confirmed the collaboration with DOGE, mentioning two senior agency veterans leading the collaboration and ensuring appropriate access to CMS systems and technology, according to the Journal.
DOGE’s focus on CMS aligns with its mandate to cut at least $1 trillion in federal spending. The CMS, which spent over $1.5 trillion in 2024, is often criticized for fraudulent and wasteful spending. Musk expressed his interest in the health agency, hinting at potential fraud in Medicare spending.
Musk’s representatives had reportedly yet to access sensitive databases that include identifiable personal health information of people enrolled in both Medicaid and Medicare. The access given to DOGE representatives was “read-only.”
See Also: Trump Administration Softens Gaza Takeover Proposal As Middle East Allies Reject Plan
Why It Matters: DOGE’s access to CMS comes in the wake of Trump’s Medicaid cuts. In January it was reported that the GOP was pushing for big changes to Medicaid, which serves 79 million low-income or disabled Americans.
Soon after the freeze was announced the Medicaid website stopped functioning, but the White House later attributed that to an “outage.” The executive branch of the government said that no payments had been affected.
The Department of Government Efficiency shares its acronym with Dogecoin (CRYPTO: DOGE), the cryptocurrency frequently mentioned in Musk’s posts on X.
Price Action: At the time of writing, DOGE traded 2.7% lower at $0.26, according to data from Benzinga Pro.
Image via Shutterstock
Did You Know?
Congress Is Making Huge Investments. Get Tips On What They Bought And Sold Ahead Of The 2024 Election With Our Easy-to-Use Tool This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
Market News and Data brought to you by Benzinga APIs
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Word on the street is that Ethereum is ready for an early Christmas. The cryptocurrency’s accumulation addresses received a whopping $883M on February 7 – the highest daily inflow ever.
Moreover, long-term holders are now holding over $19.24M worth of $ETH, which is also a record.
This number, by the way, has jumped 20.55% in 2025, which, combined with the fact that $ETH’s price has dropped by 20.75% this year, reflects investors’ confidence in Ethereum.
Simply put, an increasing number of investors are HODLing Ethereum, expecting a big move in the near future.
Further evidence that $ETH’s record-breaking daily info is a bullish sign is the observation that Ethereum’s price shoots up after accumulation peaks like this.
For instance, Ethereum’s price rose by 35% just two months after 244K ETH (a record at that time) were accumulated on a single day (on February 26, 2023).
With Ethereum set to test (and potentially break) all-time highs, we’ve picked 6 meme coins to explode and follow $ETH on its upwards trajectory.
1. Solaxy ($SOLX) – Best Meme Coin to Buy In 2025 Solaxy ($SOLX) has arrived at just the right time for Solana. Although $SOL has been pretty sensational of late – 89% gains in the last one year – plus it’s now holding support and is ready for a breakout, it has admittedly been struggling to accommodate the growing number of users.
This is where Solaxy comes in. As the first layer 2 solution on Solana, $SOLX will solve the problems of network congestion, failed transactions, and limited scalability on the blockchain.
The $SOLX presale has been well received by both retail traders and whales alike. For instance, a whale bought $122K $SOLX just over a month ago.
The total presale raise now stands at an impressive $19M, with each token currently being offered at just $0.00163. If this is your first time investing in a crypto presale, here’s a detailed guide on how to buy $SOLX.
2. MIND of Pepe ($MIND) – Leverage AI to Become a Profitable Crypto Trader MIND of Pepe ($MIND) is a one-of-a-kind fusion between AI and crypto that promises to alter how retail traders have been approaching the crypto market.
It’s a self-evolving AI agent that constantly talks to crypto influencers and communities on dApps and social media sites like X, listening to their beliefs and biases regarding crypto.
Next, $MIND organizes and then declutters all that information to offer trading signals and unique market insights to its token holders.
Additionally, MIND of Pepe is also capable of shaping conversations and hype online, acting as a catalyst for new trending cryptos that it has recommended to its community.
Simply put, this frog-inspired meme coin is poised for tremendous growth, as it’s a sigh of relief for retail crypto traders who have been struggling to make consistent profits.
You can buy 1 $MIND for $0.0032924 if you get in right now. The $MIND madness has already raised over $5.5M, and it doesn’t look like slowing down. Here’s how to buy $MIND.
3. Meme Index ($MEMEX) – The Meme Coin Market Is No Longer Risky Meme Index ($MEMEX) is one of the best cryptos to buy now because it has the potential to not only change how people view the memecoin market but also attract more investors to this corner of crypto.
Taking inspiration from how index funds function in stock markets, $MEMEX is the first provider of meme coin baskets.
It offers four baskets of meme coins, ranging from the very safe Meme Titan Index (includes only the top cryptos in the world) to the high-risk, high-reward Meme Frenzy Index.
There’s also the Moonshot Index and the Meme Midcap Index, which offer handsome returns in exchange for a decent risk appetite.
All in all, because $MEMEX simplifies and diversifies meme coin investing, it has the potential to put crypto alongside the major financial markets in the world.
Meme Index is currently in presale, where it has already raised $3.5M. Each token is now available at $0.0160352, but hurry up because the price increases in the next few hours.
4. Department Of Government Efficiency ($DOGE) – Benefit from the Musk-Led New US Govt Body We’re all well aware of the OG $DOGE, but with Donald Trump winning the elections and Elon Musk getting his own way, there’s a new DOGE in town – Department of Government Efficiency.
Although the name of this US government department is indeed amusing, the work it does (or at least aspires to do) is very serious.
Under the leadership of Musk, DOGE wants to reduce bloated federal spending, alleviating the tax burden on US citizens.
DOGE’s X account constantly updates about the good work it has been doing. For instance, the organization has apparently saved over $5B in just the last two days by terminating wasteful contracts.
As a result, this ETH-based token finds itself on the list of top gainers. It’s up by a mind-boggling 35% in the last 24 hours.
Moreover, with a lifetime return of over 12,000% and truckloads of more fruitful work ahead, this $DOGE (currently priced at $0.065) is undoubtedly one of the top crypto buys under $1.
5. SPX6900 ($SPX) – Unique S&P 500 Index Meme Coin SPX6900 is another meme coin that has reacted positively to ETH’s accumulation news. It has jumped by over 8% today – and nearly 40,000% in the last year!
Built on the Ethereum network, SPX6900 is an S&P 500-based meme coin that has an amusing goal of reaching 69T in valuation. Of course, there’s no point digging into the “why” of this fictional index’s mission.
Thanks to SPX6900’s large community (82K followers on X and over 19K subscribers on its Telegram) and never-ending social media hype, it’s currently one of the best new cryptocurrencies.
Currently trading at $0.67, the token also boasts a massive market cap of $624M, which is one of the biggest in the entire industry.
Verdict Everything considered, it’s worth noting that even the best meme coins to explode aren’t free from the clutches of the overall crypto market’s volatility.
That’s why you should only invest an amount you’re comfortable sidelining for the foreseeable future.
Also, none of the above is a substitute for financial advice, and you must always do your own research before investing.
Elon Musk’s Department of Government Efficiency (DOGE) marked a monumental stride on Thursday, primarily with the launch of its official website. The advisory panel under Trump’s presidency remains poised to offer updates on governmental spending cuts with this endeavor, further streamlining federal operations. Meanwhile, the Tesla & SpaceX lead revealed what the panel eyes for its future initiatives, further echoing a buzz nationwide.
Elon Musk’s DOGE Official Website Goes Live: Here’s All According to an official X post by the Department of Government Efficiency on February 13, the official website ‘doge.gov’ is now live. This portal will offer the public vital updates on governmental spending cuts, the functioning of agency employees, and the panel’s role in streamlining federal operations.
As per Elon Musk, “Details of cost savings” are to be posted on this site. Further, the Tesla & SpaceX lead also revealed that he aims to spend the next 4 months working in the panel, primarily to slash $2 trillion from the budget.
Source: Elon Musk, X What To Expect? In light of this development, FOX Biz correspondent Charles Gasparino revealed on X that once the advisory department’s goals are met, the anticipation is that ‘inflation will be dropping to 2%.’ Notably, CoinGape reported that the latest U.S. CPI inflation data for January came in hotter than expected at a 3% basis YoY. Given that the newly launched government panel achieves what it plans, the broader risk assets market sentiment could substantially benefit.
Further, the imminent developments for the advisory panel are that it aims to launch an ‘overall savings scorecard’ and a ‘description for the amount of each cost reduction’ by February 14.
Altogether, these recent developments have echoed a buzz across the American landscape, whilst crypto market participants keenly eye Dogecoin. Elon Musk’s governmental advisory panel under Trump’s presidency has garnered significant attention to the dog-themed meme coin in light of a similar name. Also, the market hype is attributable to the American entrepreneur’s previous backing and influence over the token.
Dogecoin Under The Spotlight Amid Recent Advancements At the time of reporting, Dogecoin’s price witnessed an uptick of over 4%, exchanging hands at $0.2579. The coin’s intraday low and high were $0.2489 and $0.267, respectively. Intriguingly, the current rising trajectory falls in line with the broader crypto market’s bullish trend.
Further, the recent Elon Musk DOGE-related advancement has added a layer of intrigue surrounding the coin’s future movements. Notably, crypto market analyst ‘VipRoseTr’ conveyed optimism on the meme coin amid current developments, revealing that the price is rebounding from the Fibonacci support zone, signaling a potential bullish reversal. This projection indicates that a massive upside price movement is incoming, with the upcoming targets for the token being $0.4993, $0.5740, and $0.6543, given the price sustains a bullish movement. However, traders and investors continue to trade cautiously, given the meme coin sector’s turbulent nature.
Elon Musk’s latest cost-cutting efforts in the federal government have raised concerns about potential conflicts of interest. The Consumer Financial Protection Bureau (CFPB), a regulatory agency overseeing financial services, has been shut down by the Department of Government Efficiency (DOGE).
The closure comes as Musk’s social media platform, X, expands into financial services through X Crypto and DOGE Payments. Critics argue that eliminating the CFPB could remove oversight that would have regulated Musk’s financial ventures.
CFPB Shutdown Raises Conflict of Interest Speculation The CFPB, created after the 2008 financial crisis, was responsible for regulating financial services, including digital payment platforms. The agency had recently gained expanded powers to oversee major financial technology companies handling over 50 million transactions annually. This included companies like Apple Pay, Google Wallet, PayPal, and X Crypto.
The shutdown of the CFPB was reportedly executed by DOGE, a cost-cutting task force led by Musk within the Trump administration. The agency’s closure has led to employees being ordered to stop work, with its official website displaying an error message.
Consumer advocates suggest that this move could benefit Musk by eliminating regulatory scrutiny over X Crypto and DOGE Payments. Lindsay Owens, executive director of the Groundwork Collaborative, stated that “part of this is about clearing the way for Musk to move as quickly as possible” in developing X’s financial services.
Elon Musk’s X Crypto Expansion and CFPB’s Role X, formerly known as Twitter, has been making significant moves in the financial sector. The platform recently secured a partnership with Visa to introduce X Money Account, a mobile payments service similar to PayPal and Venmo.
This service, allowing peer-to-peer transactions and money transfers, would have been subject to CFPB oversight before the agency’s shutdown.
Under newly finalized regulations, the CFPB was set to monitor digital payment platforms for fraud, privacy concerns, and dispute resolution practices. This oversight could have directly affected the rollout of X Crypto and DOGE Payments.
Adam Rust, director of financial services at the Consumer Federation of America, told the Washington Post that the agency “would likely be looking into the activities of X,” which may not have been favorable to Musk’s plans.
Elon Musk’s Blockchain Proposal and DOGE Payments Elon Musk has also suggested using blockchain technology, which has been rumoured to be Cardano, for government operations through DOGE. According to reports, he proposed using digital ledgers to track federal spending, secure data, and facilitate payments. This aligns with his ongoing efforts to integrate cryptocurrency into X’s financial ecosystem, including the promotion of DOGE Payments.
Musk has previously advocated for expanding the use of Dogecoin, a cryptocurrency he has openly supported.
His financial technology ambitions suggest that blockchain-based payment capabilities may be included in X Money Account, potentially reducing reliance on traditional banking systems. Visa’s involvement in crypto and Elon Musk’s established ties to digital assets further support the possibility of blockchain integration in X Crypto.
Dogecoin Price Trend Amid Speculation Speculation about Elon Musk’s financial moves has also influenced the cryptocurrency market. Dogecoin (DOGE) has seen price fluctuations as investors react to reports linking the cryptocurrency to Musk’s financial expansion.
Crypto analyst Trader Tardigrade has predicted a bullish target of $4 for Dogecoin, suggesting that DOGE could experience significant gains soon. At press time, Dogecoin price was trading at $0.2552, a 1.57% decline from the intra-day high of $0.267.
Concurrently, market expert CobraVanguard also shared that Dogecoin could first rise to $0.32 and later to $0.60 based on recent price movements.
The financial sector, let alone the crypto market, has buzzed with excitement as Elon Musk’s DOGE announced an audit into the US Securities and Exchange Commission (SEC). Recently, the Department of Government Efficiency (D.O.G.E.) has announced a probe into the US SEC for “waste, fraud, and abuse”, sparking market discussions. Adding to the excitement, XRP lawyer John Deaton has extended his backing for Musk and the department, gaining notable traction from the market participants.
Meanwhile, XRP lawyer John Deaton is a well-known figure in the crypto industry, especially because of his role in the Ripple Vs SEC lawsuit. In addition, he also ran for election to the US Senate (Republican Party) to represent Massachusetts against Elizabeth Warren, whom many deem as an anti-crypto regulator. However, he lost to Warren in the election.
XRP Lawyer John Deaton Joins Forces With Elon Musk’s DOGE XRP lawyer John Deaton, a well-known figure in the crypto industry, has publicly backed the latest initiative of Elon Musk’s DOGE. Deaton, who played a crucial role in the Ripple Vs SEC lawsuit, has taken to social media to extend his expertise. In a recent X post, Deaton stated:
“Elon Musk & DOGE needs to talk to me and I can show you a few things I’ve learned (and helped expose) the last few years.”
His comment has sparked widespread reactions, with crypto enthusiasts welcoming his involvement in the probe against the SEC. Notably, ex-Ripple executive Sean McBride also lauded the latest move by the XRP attorney, sparking discussions in the market.
XRP Community Lauds As Elon Musk’s DOGE Takes Aim At US SEC The newly created X account “DOGE SEC” has actively sought public assistance in gathering evidence against the regulatory agency. In an open call, the account posted:
“DOGE is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud, and abuse relating to the Securities and Exchange Commission.”
This move has received backing from prominent figures in the industry. Investigative journalist Laura Loomer urged the probe to start with former SEC official Bill Hinman, whose dealings remain under scrutiny. Reacting to that, XRP lawyer Bill Morgan echoed her sentiments, calling it the “perfect place to start.”
Source: Bill Morgan, X Crypto Community Calls Out SEC’s Actions The SEC has been under fire for its handling of key cases, including the XRP lawsuit. The agency has reportedly withheld 201 documents related to its communication with JPMorgan about Ripple and XRP. Ripple’s Chief Legal Officer, Stuart Alderoty, previously stated, “I have the receipts,” indicating evidence of possible US SEC misconduct.
This has also sparked discussions if the latest probe could lead to an end in the ongoing Ripple Vs SEC lawsuit. Notably, a top XRP lawyer has recently commented on the potential impact of the Ripple lawsuit on the XRP ETF approval process, which has gained immense attention from market watchers.
Meanwhile, Coinbase’s Chief Legal Officer, Paul Grewal, also weighed in, suggesting that those who successfully defend themselves against SEC lawsuits should be reimbursed for legal fees. Meanwhile, critics have called for a closer look at the “ETH Gate” controversy, which alleges that the SEC gave preferential treatment to Ethereum while targeting other crypto firms.
Having said that, with the DOGE initiative gaining traction and XRP lawyer John Deaton lending his legal expertise, pressure is mounting on the US SEC to address its controversial actions. Whether this probe leads to tangible changes remains to be seen, but it has undoubtedly reignited the crypto community’s call for accountability.
As FTX founder Sam Bankman-Fried breaks his two-year silence, scammers have seized the opportunity to create a fake account on X, unleashing meme coins. Posing as SBF, the impostors falsely claimed that Donald Trump had pardoned him and that he was joining the Elon Musk-led Department of Government Efficiency.
Following SBF’s appearance on his X account, the FTT token surged by about 29% only to fall soon. Despite the recent dip, investors show growing interest in the token.
SBF Fake Account Releases Meme Coin In a shocking turn of events, a fake account impersonating Sam Bankman-Fried issued meme coins and their contract addresses. The scammers also claimed that President Donald Trump has pardoned SBF who has been serving out a 25-year prison sentence on seven counts of fraud and conspiracy.
This development comes after SBF’s recent X post on the Department of Government Efficiency’s (DOGE) layoffs. Subsequently, the scammers created a fake account, claiming that SBF was joining DOGE.
Multiple users flagged the account for suspicious activity, noting the gray verification checkmark on X, typically reserved for government or multinational organization accounts. Several X users condemned this as identity theft and fraud, warning investors to be cautious of such scams. The SBF fake account message was quickly removed, leaving no trail of the scammers’ intentions or their planned next steps.
It is noteworthy that the SBF fake account’s release of meme tokens comes amidst the broader meme coin mania initiated by Donald Trump’s TRUMP.
Sam Bankman-Fried Breaks Silence after Two Years Earlier today, Sam Bankman-Fried shared a series of X posts, reflecting on the US government layoffs implemented by the Trump administration. Notably, Elon Musk’s DOGE agency has reduced its federal workforce by approximately 95,000 positions, mainly through voluntary resignations and the dismissal of probationary employees.
1) I have a lot of sympathy for gov’t employees: I, too, have not checked my email for the past few (hundred) days
And I can confirm that being unemployed is a lot less relaxing than it looks
— SBF (@SBF_FTX) February 25, 2025
Addressing the issue, SBF highlighted the harsh realities of unemployment. He posited that unemployment is more challenging than expected. He also emphasized that the case arises from broader organizational issues rather than individual performance.
FTT Token Surges: Will It Sustain? Triggered by SBF’s post, FTX’s FTT token saw an uptick of more than 29%, reaching a high of $2.1. However, the token soon plummeted and is now trading at $1.6, marking a loss of 3.54% over the last 24 hours. FTT has experienced deeper declines of 19% and 21% over the past week and month, respectively.
Significantly, FTX repayment updates and SBF’s surprise return has fueled investor sentiment. This is evident in FTT’s increasing daily trading volume, which reached $84.67 million, up by 175%.
Tesla and SpaceX CEO Elon Musk compared investments in meme coins to casino games on Friday, warning investors against pouring their life savings into such assets.
What happened: During a chat with Joe Rogan on the popular "The Joe Rogan Experience" show, Musk said, “It’s like a casino or something. And then people just do the greater fool theory and like musical chairs, and whoever is the last to sit down loses type of thing."
Musk stated that expecting to win at the casino is foolish, and so is the case with meme coins.
"You’re not gonna win at meme coins," Musk emphasized. "Don’t sink your life savings into a meme coin."
Musk used a popular idiom to drive home the point, saying, "Don’t bet the farm on meme coins."
In fact, the acronym for the Department of Government Efficiency, a federal government initiative created by the tech mogul, is based on Dogecoin.
Musk’s views echoed those of billionaire investor Mark Cuban, who previously criticized meme coins as a ‘hustle’ and likened them to a game of musical chairs.
More recently, the SEC clarified that meme coins do not fall under federal securities laws, but fraudulent activities involving these coins could still face legal consequences.
Price Action: At the time of writing, Dogecoin was exchanging hands at $0.2278, up 10.14% in the last 24 hours, according to data from Benzinga Pro.
Read Next:
Bitcoin Spin-Off Litecoin, ‘Ethereum Killer’ Avalanche Weather Crypto Meltdown, Here’s Why LTC, AVAX Are Spiking Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
Market News and Data brought to you by Benzinga APIs
Influential tech entrepreneur Elon Musk categorically ruled out the idea of the U.S. government using Dogecoin (CRYPTO: DOGE) on Sunday, even though his initiative, the Department of Government Efficiency, makes a playful reference to the meme-based cryptocurrency.
What Happened: During a town hall event in Green Bay, Wisconsin, Musk was asked whether the Dogecoin blockchain might be used to improve government transparency.
“Well the names are similar, but they’re doing two very different things,” the Tesla and SpaceX CEO responded.
Musk stated that he first planned to name the department the “Government Efficiency Commission” but changed it to the Department of Government Efficiency after receiving suggestions on the internet.
“But there are no plans for the government to use Dogecoin or anything as far as I know,” Musk clarified.
This statement comes in the wake of Musk’s previous comments comparing investments in meme coins like Dogecoin to casino games. He had warned investors against pouring their life savings into such assets.
Why It Matters: Musk has been an avid supporter of Dogecoin, and his social media posts have routinely sent the dog-themed cryptocurrency rallying.
Moreover, his automobile firm, Tesla, previously accepted Dogecoin payments. Last year, he expressed a desire to reinstate the option for the company's merchandise.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1667, down 3% in the last 24 hours, according to data from Benzinga Pro.
Image via Shutterstock
Read Next:
Trump Media Partner Crypto.Com Announces End Of SEC Enforcement Action, Native Token Soars 12% Market News and Data brought to you by Benzinga APIs
Elon Musk has doused optimism for the US government to adopt Dogecoin at the America PAC town hall event. The head of the Department of Government Efficiency (DOGE) noted that the government agency only bears a nominal resemblance to the memecoin.
Elon Musk Dispels Rumors Of Dogecoin Adoption By The US Government At a recent event, Tesla CEO Elon Musk cleared the air on the potential adoption of Dogecoin by the US government. In his keynote speech, Musk noted that the US government will not be adopting Dogecoin, contrary to swirling speculation.
Musk noted that the speculation gained traction following the launch of the Department of Government Efficiency (DOGE). Following the launch of DOGE and Musk tapped to lead the agency, enthusiasm for Dogecoin government utility reached new highs.
However, Musk clarified that the agency bears only a nominal resemblance to the memecoin, stemming from an internet trend. The Tesla CEO disclosed that the original intended name was the Government Efficiency Commission, opting for DOGE “because the internet is right.”
“The name is similar but they are two different things,” said Musk. “But there are no plans for the government to use Dogecoin as far as I know.”
Musk has a long and storied history with Dogecoin, famously shilling the memecoin and integrating DOGE payments for Tesla. Musk teased an anime-themed DOGE on X, setting the stage for a $2 rally for the memecoin.
DOGE Reacts Negatively To The News Dogecoin price slumped by nearly 2% in the wake of the grim report. Currently, the memecoin is trading at 0.1660 as it eyes a push toward the $1 mark.
The negative fundamental adds pressure to reports of DOGE forming a falling wedge pattern, signaling a potential downward breakout. However, optimists are rippling with confidence that DOGE can shake off the negative sentiments to post new all-time highs.
One analysis claims that if the Dogecoin price breaks a 3-month trendline, an $8 valuation for the memecoin is in play. Others claim that the House of Doge Reserve launch will be a tailwind for Dogecoin price, sending the dog-themed coin on a strong rally.
Coinbase (NASDAQ:COIN) CEO Brian Armstrong has called on Department of Government Efficiency contractors to apply to Coinbase to “help create a more efficient financial system for the world.”
What Happened: In a post on X on May 13, Armstrong wrote “If you’re looking for your next mission to serve your country, consider taking the DOGE Staff interview, help us build a more efficient financial system for the world at Coinbase.”
He reposted a video featuring a Harvard dropout who joined the DOGE team, saying he found greater impact and purpose working on financial reform than in academia.
Also Read: Coinbase Analysts Look Ahead To Q2 After Disappointing Q1: ‘Higher Crypto Prices… Increased Volumes’
Why It Matters: Armstrong has long championed DOGE as a vehicle for financial reform, previously describing it as a "once-in-a-lifetime opportunity" to expand economic freedom in the U.S.
In November 2024, he even proposed replacing individual income tax with corporate taxation, highlighting DOGE's role in broader policy innovation.
More recently, in May 2025, Armstrong noted that stablecoins like USDC have strong network effects and urged banks to partner with existing players rather than creating their own.
In February 2025, Armstrong likened Bitcoin adoption to the early days of mobile phones and the internet, predicting billions of global users by 2030.
As Coinbase gains momentum, including its inclusion in the S&P 500 Index, Armstrong's DOGE initiative may signal a deeper push toward financial system disruption from within the industry's top leadership.
Read Next:
Cathie Wood Says ‘Index-Sensitive Managers Will Be Compelled to Consider’ Coinbase As Crypto Exchange Platform Joins S&P 500 Index Image: Shutterstock
Market News and Data brought to you by Benzinga APIs
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
Strict editorial policy that focuses on accuracy, relevance, and impartiality
Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.
Bitcoin can soon cross the $200K mark due to rapidly contracting supply.
Matt Hougan, the chief investment officer of Bitwise, said that the king cryptocurrency can hit the milestone by the end of 2025, considering demand and supply.
Hougan’s rationale is that miners can only produce 165,000 $BTC this year. On the other hand, Strategy alone has bought 379,800 $BTC over the past six months. This means that miners can’t produce enough $BTC to satiate the market’s demand.
Moreover, a huge amount of money has been flowing into Bitcoin ETFs, with the total now standing at $6B. Add to this governments and corporations also buying $BTC left, right, and center, and we’re witnessing an unforeseen demand for the ‘digital gold.’
Hougan expects that $BTC sellers would stop at $100K, which is also a huge psychological level.
Keep reading to learn more about Bitcoin’s brewing rally. We’ll also list down the best altcoins you can buy to benefit from this.
Shrinking Bitcoin Supply Michael Saylor’s Strategy has emerged as the most aggressive Bitcoin buyer. The company now holds a whopping 568,840 $BTC worth $59.03B.
Because of this, the Bitcoin supply has turned deflationary (-2.33%), as per analyst Ki Young Ju. Simply put, Bitcoin’s supply is decreasing by 2.33% every year.
Now, with other firms such as Cantor Fitzgerald’s Twenty One also buying Bitcoin aggressively and governments rushing to form a Bitcoin reserve, this deflationary rate is only expected to increase in the next few years.
In other words, Bitcoin could become an asset of the rich with limited supply.
It’s worth noting that Bitcoin is not expected to stop even after it reaches $200K. Crypto analyst Scott Melker said in a recent interview that the asset can reach $250K by the end of 2025.
Heavy corporate investments have meant that Bitcoin has become less volatile over the years. Earlier, it was about three times more volatile than the S&P 500, but it’s now less than twice as volatile.
Decreasing volatility is a strong indication of increasing institutional interest. The more money flows into an asset, the less volatile it becomes.
If you, too, want to benefit from Bitcoin’s mighty swing upwards, this might be your last chance. If you’re looking for ideas, here are some of the best cryptos to invest in right now.
1. BTC Bull Token ($BTCBULL) – Best Altcoin to Buy to Ride Bitcoin’s Growth A Bitcoin rally generally means happy times for the broader crypto (and meme coin) market.
However, becoming an early investor in BTC Bull Token ($BTCBULL) will allow you to make the most of Bitcoin’s growth.
That’s because $BTCBULL is the ONLY crypto today offering real (and free) $BTC via airdrops to its token holders.
Every time Bitcoin reaches a landmark figure, such as $150K, $200K, and $250K, for the first time, $BTCBULL holders who have stored their tokens in Best Wallet will automatically receive their share of $BTC.
As mentioned earlier, Bitcoin is expected to reach $250K this year, meaning you can benefit from at least three $BTC airdrops, depending on when BTC Bull Token goes live.
The project is currently in presale, with over $5.9M in early investor funding. Luckily for you, one $BTCBULL is available for just $0.00252.
It’s also worth noting that the project’s developers have planned to follow a deflationary model.
This simply means that the total $BTCBULL supply will keep reducing – every time $BTC’s price jumps $25K, to be precise – which will likely boost demand.
For more information, check out our guide on how to buy BTC Bull Token.
2. MIND of Pepe ($MIND) – Best AI Agent Coin Offering Real-Time Crypto Investment Insights A booming crypto market is a launchpad for viral meme coins. We’ve already witnessed this in the last couple of weeks, with tokens like $MOODENG, $KEKIUS, and $GOAT recording triple-digit gains.
MIND of Pepe ($MIND) is a potentially revolutionary new crypto that will help you identify such high-potential tokens before they rocket to the moon.
Its autonomous AI agent stirs up conversations on online platforms like X, talking to the crypto community and doing deep dives into their opinions on various altcoins.
Finally, it analyzes all the collected data using its cutting-edge hive-mind analysis to read the market’s pulse and zero in on the best cryptos to buy.
Remember, $MIND is also self-evolving, which is why it’ll be able to create its own tokens once it has spread its popularity far and wide in the crypto community.
Finally, it’s worth noting that only $MIND token holders will have access to the AI agent’s real-time insights and investment suggestions.
Additionally, if you want to make the most of $MIND’s predicted 800% growth, consider becoming an early investor in the project.
Hurry up, though, because the $MIND presale ends in less than two weeks. Each token is currently available for just $0.0037515, and the project has raised $9.4M in total. Buy $MIND now.
3. Department of Government Efficiency ($DOGE) – Viral Meme Coin Inspired by Musk’s DOGE The Department of Government Efficiency (DOGE) is Elon Musk’s newest infamous initiative.
As the name suggests, DOGE’s mission is to assist the second Trump administration by maximizing the productivity of the federal government.
Considering that anything Musk touches becomes a fad in crypto, it’s hardly a surprise that $DOGE (not Dogecoin, mind you) has risen to become one of the top trending cryptos.
To make the most of its viral bottom line, the $DOGE meme coin offers a few distinct advantages to crypto traders.
For instance, you don’t have to pay any fees while buying, selling, or transferring $DOGE. Next, this low-cap coin is now completely owned by the community; the $DOGE owner has given up control over it.
$DOGE is up over 140% in the last month or so, including 76% in just the last seven days.
It’s currently trading at $0.03318, which, seeing as Trump’s second term is only getting started, could be a great entry point for interested investors.
Remember, Even the Best Altcoins Require Sound Risk Management With a Bitcoin rally looking imminent, top altcoins like BTC Bull Token ($BTCBULL) and MIND of Pepe ($MIND) offer once-in-a-lifetime opportunities thanks to their unique prospects and low prices.
However, bear in mind that the crypto market guarantees nothing. It’s highly volatile and unpredictable, which is why you should only risk what you can afford to lose.
Also, kindly do your own research before investing; this article is not financial advice.
Another key figure at the Department of Government Efficiency, nicknamed “Big Balls”, has reportedly stepped down, following the exit of Elon Musk from the federal initiative meant to reduce wasteful spending.
What Happened: Edward Coristine, a 19-year-old high school graduate operating under the pseudonym “Big Balls”, has resigned from his role at DOGE, The Hill reported Tuesday, citing a White House official with knowledge of the matter.
Coristine was a key participant in high-level meetings involving the DOGE, Treasury Department, Commerce Department, and military operations during his tenure, the report said.
Despite his age and education, Coristine gained access to the United States’ payroll systems. However, his Google Workspace account with the General Services Administration (GSA) is no longer active following his resignation, as reported by WIRED.
DOGE didn’t immediately return Benzinga’s request to confirm this news.
See Also: Peter Schiff Slams Texas For Authorizing Bitcoin Reserve: ‘Another Example Of Why The Founding Fathers Distrusted Democracy’
Why It Matters: Coristine, previously lauded by Musk, was reportedly linked to a cybercrime group, leading to concerns about the integrity of the DOGE initiative. His former company, DiamondCDN, had ties to a website operated by the cybercrime group “EGodly”.
At the same time, the initiative faced flak for seeking access to sensitive government systems such as the Treasury Department and potential conflicts of interest.
Price Action: The DOGE acronym also alludes to Dogecoin (CRYPTO: DOGE), a meme coin that Musk has liked over the years, although there is no direct link between the department and the cryptocurrency.
At the time of writing, DOGE was exchanging hands at $0.1657, up 1.07% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: iQoncept on Shutterstock.com
Read Next:
Dogecoin Up 5% But Doubts Remain: What’s Going On? Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
The U.S. is facing a serious financial challenge. The national debt is now over $36 trillion, and rising interest rates are making it more expensive to borrow money. Much of the debt that was issued during the COVID-19 era is about to roll over, meaning it needs to be refinanced at today’s much higher rates.
In brief The U.S. is facing massive debt and rising interest costs, with few traditional solutions left. Bitbonds are a new idea that combine Treasury bonds with Bitcoin to attract more buyers and lower borrowing costs. They offer upside potential without extra taxpayer risk, and could help legitimize Bitcoin in the process. Bitcoin bonds as a solution If nothing changes, taxpayers will be stuck paying hundreds of billions more in interest every year. But there may be a surprising new idea that could help: Bitcoin-enhanced Treasury Bonds, or Bitbonds.
This idea comes from Matthew Pines, director at the Bitcoin Policy Institute. His proposal is simple: when the U.S. issues new bonds, it could set aside a small portion of the money raised, say 1-10%, to buy Bitcoin.
Some of that Bitcoin would go into a long-term government reserve. The rest would be distributed over time to people who buy the bond, giving them a mix of stable returns from the bond, plus potential upside from Bitcoin.
Why do this? Because it could increase demand for U.S. bonds. With stronger demand, the government wouldn’t need to offer such high interest rates to attract buyers. That could save a lot of money.
It could also send a powerful signal. If the U.S. government starts buying and holding Bitcoin, it would show that it sees Bitcoin as a legitimate, long-term asset. That could boost trust in Bitcoin, and possibly raise its price, which would benefit both the government and investors in Bitbonds.
What’s the risk? Pines says the downside is limited. If Bitcoin drops in value, the bondholder still gets the same return as a normal Treasury bond. If Bitcoin goes up, they get a bonus. It’s like a regular bond, but with optional upside.
Bitbonds wouldn’t replace the current financial system, they’d be a new tool the government could try. Pines recommends starting with a pilot program, to see how investors react.
It’s a bold idea. But with rising debt, global tensions, and limited political options, Bitbonds might offer something rare: a way to lower borrowing costs, promote financial innovation, and ease long-term pressure, without raising taxes or cutting spending.
And if it works, the idea might bring a lot of capital into Bitcoin, at which point the idea of exploring the same principle with different cryptocurrencies such as XRP and Ethereum might get explored.
Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Join the program
A
A
Lien copié
Gijs O.
I've been passionate about crypto for nearly a decade, ever since I was young and first became curious about investing. That early spark led me to years of research, writing, and exploring the future of decentralized tech.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
The Department of Government Efficiency (DOGE) has been dissolved, according to the Office of Personnel Management (OPM), despite its mandate being scheduled to continue through July 2026.
Despite the news, the meme coin associated with the Elon Musk and Vivek Ramaswamy-led initiative is up by double digits.
Trump’s DOGE Project Is OverDOGE began by executive order on Trump’s first day following reelection. Its mission was to dramatically streamline bureaucracy and cut $6.5 trillion in federal spending.
The launch sparked immediate attention, driving Dogecoin prices up over 10% on the announcement and leading to expectations of more crypto use in government.
OPM director Scott Kupor confirmed the dissolution, noting that DOGE doesn’t exist as a centralized entity. The department’s roles have shifted into OPM, while Trump now refers to DOGE in the past tense at public events.
Good editing by @reuters – spliced my full comments across paragraphs 2/3 to create a grabbing headline 🙂 The truth is: DOGE may not have centralized leadership under @USDS. But, the principles of DOGE remain alive and well: de-regulation; eliminating fraud, waste and abuse;…
— Scott Kupor (@skupor) November 23, 2025 The shutdown came eight months before its expected end. Musk left Washington in May. In June, turmoil appeared as staff packed personal items and searched for new homes, while tensions reportedly rose between Trump and Musk.
Despite its aggressive cost-cutting, the department quietly closed its doors.
Vivek Ramaswamy withdrew from the Ohio Senate race to focus on DOGE, but the department faced criticism for a lack of transparency and public accountability throughout its brief existence.
DOGE agents reportedly moved aggressively through agencies, making large personnel cuts and trimming budgets with minimal stakeholder input.
DOGE’s leadership claimed billions in savings, but no concrete, verifiable evidence has shown true cost reductions from these actions. This lack of transparent accounting has left many questioning whether DOGE improved spending efficiency at all.
Until shortly before its closure, DOGE’s official account posted regular updates on contract reductions, highlighting cost-cutting milestones in multiple agencies.
Contracts Update!
Over the last 9 days, agencies terminated and descoped 78 wasteful contracts with a ceiling value of $1.9B and savings of $335M, including an $616k HHS IT services contract for “social media monitoring platform subscription”, an $191k USAGM broadcasting… pic.twitter.com/83ldxUZ1NY
— Department of Government Efficiency (@DOGE) November 23, 2025 Some former DOGE employees are concerned about possible legal consequences related to their involvement in the department’s aggressive measures.
These concerns reveal persistent questions regarding whether DOGE’s practices crossed legal or ethical lines in its short tenure.
This transition marks a shift from DOGE’s drastic cost-cutting to broader government modernization. Critics have noted that only Congress can officially disband agencies, and DOGE’s scope was always limited to what executive actions could deliver.
Department of Government Efficiency (DOGE) Price Performance. Source: BeInCryptoMeanwhile, the Department Of Government Efficiency cryptocurrency token continues trading. Data on BeInCrypto shows the token’s price sits at $0.00483, up 13.62% in 24 hours.
The dissolution of DOGE raises questions about how sustainable rapid government restructurings can be, and what role executive actions play in structural reform.
As federal operations absorb former DOGE staff and the administration moves on, the real impact of DOGE’s brief experiment remains uncertain and open to further assessment.
DOGE Outperforms Bitcoin, EthereumThe spot price increase piqued the curiosity of derivatives traders, with open interest in DOGE futures surging 3.27% in the last 24 hours, according to Coinglass.
Ali Martinez, a widely followed cryptocurrency analyst and trader, spotted a “Buy” signal for the memecoin from the TD Sequential indicator, mirroring a previous signal that resulted in a 101.5% rally.
The TD Sequential indicator is a technical analysis tool that helps traders identify potential price reversals and exhaustion patterns.
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
End Of The Road For Musk’s DOGE?The coin’s rally was also notable as it came despite Scott Kupor, Director of the Office of Personnel Management, confirming that the Department of Government Efficiency no longer exists.
DOGE launched in January with Musk promising $2 trillion in savings, an idea that initially received full support from President Donald Trump. Musk later split with Trump in June over the president’s tax-and-spending bill.
Dogecoin gained significant momentum after Trump’s victory and the subsequent announcement of the DOGE initiative. Although there was no direct link, Musk’s wordplay caused investors to associate the memecoin with the government.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1465, up 2.60% in the last 24 hours, according to data from Benzinga Pro.
Read Next:
Tom Lee Says Bitcoin, Ethereum Crash Wasn’t Macro But A ‘Software Bug’ Photo Courtesy: Akif CUBUK on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
The Department of Government Efficiency dismissed news of its disbandment as “fake” on Monday, declaring that it would be back soon with “regularly scheduled” updates.
DOGE Returning In A ‘Few Days’The official X account of the Department of Government Efficiency, or DOGE, stated that the agency terminated 78 “wasteful” contracts last week, resulting in savings of $335 million for taxpayers.
President Trump was given a mandate by the American people to modernize the federal government and reduce waste, fraud and abuse,” the post read. “We'll be back in a few days with our regularly scheduled Friday update.”
Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, reacted positively to the development, saying, “Long live DOGE.”
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
Trump’s OPM Director Said DOGE Not A ‘Centralized Entity’DOGE’s statement comes after Office of Personnel Management Director Scott Kupor said that DOGE is no longer a “centralized entity,” with the OPM absorbing many of DOGE’s duties.
Notably, Kupor also reposted DOGE’s latest post.
DOGE launched in January with Musk promising $2 trillion in savings, an idea that initially received full support from President Donald Trump. Musk later split with Trump in June over the president's tax-and-spending bill.
Price Action: At the time of writing, DOGE was exchanging hands at $0.1508, up 2.22% in the last 24 hours, according to data from Benzinga Pro.
Read Next:
Bitcoin Is Down 35% In 6 Weeks, But The Next Rally Decides If It’s ‘Over’ Or Not Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Photo Courtesy: mundissima on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
Tesla and SpaceX CEO reiterated in an interview aired Sunday that Bitcoin (CRYPTO: BTC) is based on energy, categorizing it among “fundamental” currencies.
Bitcoin Is Physics-Based?Speaking to Indian entrepreneur Nikhil Kamath, Musk discussed what he thought were “physics-based” fundamental currencies.
“Energy is the true currency. This is why I said Bitcoin is based on energy,” the technology mogul said.
Musk argued that energy can’t be legislated, adding, “You can’t just pass a law and suddenly have a lot of energy. It’s very difficult to generate energy, or especially to harness energy in a useful way to do useful work.”
See Also: Dogecoin (DOGE) Price Prediction 2025, 2026, 2030
Governments Cannot Fake Energy, Said MuskMusk repeated the arguments he had made earlier in the year. In October, he said that Bitcoin is based on energy, and unlike fiat currencies, governments cannot “fake” it and issue their own.
It’s worth noting that Bitcoin mining requires a huge load of electricity to power computers and solve complex mathematical puzzles. It is through mining that the network is secured and new BTC enter the system.
DOGE Was ‘Common Sense’Musk also talked about his Department of Government Efficiency, or DOGE, initiative, calling it an “interesting side quest” that gave him insight into the “inner workings” of government.
“So a bunch of things that DOGE did were just very common sense, things that would be normal for any organisation that cared about financial responsibility,” he said.
Musk also said that the department continues to function, adding, “It’s still going on, by the way. DOGE is still happening.”
The DOGE department dismissed news of its disbandment as "fake" last week, declaring that it would be back soon with "regularly scheduled" updates.
DOGE's website shows roughly $214 billion in savings, with the last update on Oct. 4. Reports emerged suggesting the numbers were inflated by counting maximum possible contract values and not actual spending reductions.
Price Action: At the time of writing, BTC was exchanging hands at $86,563.48, down 4.75% over the last 24 hours, according to data from Benzinga Pro. Dogecoin traded down 6.88% at $0.1381 at last check.
Read Next:
Hillary Clinton Warned ‘Exotic’ Crypto Could Destabilize Nations: These Countries Took The Worst Reserve Hits In The Bitcoin Meltdown Photo Courtesy: mundissima on Shutterstock.com
Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors.
Market News and Data brought to you by Benzinga APIs
