Elon Musk clarified that, in spite of speculation generated by the establishment of the Department of Government Efficiency (DOGE), the U.S. government has no plans to adopt Dogecoin. Musk emphasized that there was no link between the department and the meme coin as he was speaking at a town hall in Green Bay, Wisconsin. “There are no plans for the government to use Dogecoin or anything as far as I know,” Musk said, clarifying that despite the names’ similarities, they served quite different functions. He noted that the goal of DOGE was to simply increase government efficiency.
The confusion began in February 2025 when the Shiba Inu mascot from Dogecoin was momentarily featured on the department’s official website. The value of Dogecoin increased by 14% as a result of the conjecture that the cryptocurrency might be involved. Musk quickly detached the department from the cryptocurrency, stating that DOGE’s true goal was to increase government efficiency rather than advance Dogecoin. “We’re just literally trying to make the government 15% more efficient,” he stated.
Launched in late 2024, the Trump administration’s DOGE aims to reduce expenses and restructure government departments. Agencies like the Consumer Financial Protection Bureau (CFPB) and the U.S. Agency for International Development (USAID) have been affected by its primary objectives of cutting spending and getting rid of unnecessary regulations. Particularly in reaction to the widespread layoffs and budget cuts that also impacted scientific research and climate change campaigns, the department’s attempt to reduce the size of the federal government has sparked controversy and resulted in multiple lawsuits.
According to Musk, online users had a say in the department’s name. Although the Government Efficiency Commission was initially known as DOGE was the one that the public most strongly preferred. He recalled that the Department of Government Efficiency must be the answer, according to the internet. Nevertheless, this playful name only served to increase speculation that Dogecoin may be connected in some way to the department’s work. Now that he has thoroughly addressed the rumors, Musk maintains that the department and the coin are unrelated.
In spite of Musk’s clarification, Dogecoin’s value fell 3.2% in a day, to $0.16. Following the last increase, the Shiba Inu mascot made a brief appearance on the DOGE department’s website.
Musk’s exact spot inside the agency is still not entirely apparent. Although he does not have the ability to make policy, the White House has described as him as a senior advisor. President Trump, however, has called him the head of the department. Musk confirmed, however, that he is not receiving compensation for his work on the project. As a major priority of Trump’s administration, the department’s main objective is to make the federal government smaller and more cost-effective.
