Elon Musk's statement that disappointed Dogecoin investors (DOGE)! Here are the details.

Dogecoin's (DOGE) hopes of playing a role in the (D.O.G.E.) within the U.S. Government Efficiency Department were dashed after Elon Musk confirmed that he had no plans to integrate the popular memecoin into the initiative.

Elon Musk Denies His Role in Dogecoin's D.O.G.E. Initiative

Speaking at the America PAC city hall in Wisconsin, Musk said, "There is no plan for the government to use Dogecoin or anything else."

This statement came after weeks of speculation that DOGE could be included in a controversial civil society organization, fueled by the temporary appearance of a Dogecoin logo on the official D.O.G.E. website following Donald Trump’s inauguration.

Musk explained the reasoning behind the name choice as follows: "I was going to name it the Government Efficiency Commission, but that is such a boring name. Then the internet said it should be the State Efficiency Department. I said the internet was right."

Following Musk's comments, DOGE prices fell by 3.5%, reflecting broader market trends. Despite there being no official plan for the inclusion of Dogecoin in D.O.G.E., speculation had fueled a months-long rally in DOGE prices and inspired several imitation tokens.

It is reported that D.O.G.E., which aims to facilitate government spending and increase efficiency, has saved 130 billion dollars since its official launch in January 2025, providing an average saving of 840 dollars per taxpayer.

Despite having no connection to Dogecoin, Musk's continued public support for DOGE has historically influenced the token's price movements and has led many to wonder what the next chapter holds for the future of the memecoin in the realms of politics and finance.