Elon Musk’s Government Efficiency Office (DOGE) gained access to the payment system of the US Treasury. Some people called it unethical, while crypto enthusiasts called it hypothetically an initial step to adopt blockchain technology at the government level.
The Department of Government Efficiency Office (DOGE) is a new department established by Tesla CEO Elon Musk in late 2024 to bring efficiency to the working system of government agencies & give a better push to the US economy by cutting government expenses. DOGE also represents Dogecoin Cryptocurrency, as Musk is a very big fan of the $Doge coin.
On 2 Feb 2025, Odaily reported the US Treasury granted access to the US Treasury payment system to the DOGE department, which means Elon Musk’s isolated department can sew all government expenditures and further purpose ideas to reduce those unnecessary expenses.
Just a day ago, Musk talked about unnecessary government expenses and said that he has a plan to slash nearly $4 billion per day, and it will help him to reduce $1 trillion per year spending.
Through another tweet post, Tesla’s CEO said that his goal to achieve a reduction of $4 billion in expenses per day will be done within the next 7 days easily.
Bull sentiments among DOGE Cryptocurrency lovers
However, Dogecoin Cryptocurrency has nothing to do with the DOGE department directly, but both ( DOGE & $DOGE) are supported by Musk officially. So, the majority of Dogecoin crypto investors are crazy about this development, as the promotion of these popular meme tokens is taking place at the government level & globally with the Doge department.
Possibility of Doge Blockchain Use by the Department
A week ago, we reported that Musk’s DOGE department contacted many crypto projects to explore the use of blockchain technology to directly allow the citizens to track the government spending people’s taxes easily.
At the present time, some Dogecoin lovers are speculating that Musk will bring at least one use of the Dogecoin blockchain directly to achieve his goals.
Charles Hoskinson, founder of the Cardano blockchain network, also showed his interest in the DOGE department’s plan to use blockchain technology. Hoskinson openly invited Musk to use Cardano & also get a free solution from the Cardano team.
Elon Musk’s fake Dogecoin promises
No doubt that Musk is the biggest fan of Dogecoin Cryptocurrency but it is a bitter reality that he stopped endorsing this popular meme Cryptocurrency directly. Notably, he uses an indirect method to promote Dogecoin.
In 2021, Musk promised to launch the Doge-1 satellite, a space mission fully funded in $Doge coin.
This final outcome of this project never came to the public domain, or we can say that it never happened.
Dogecoin price action
The current trade price of Dogecoin is $0.3 & this price level is 7% down over the last 24 hours trading period. Despite bull momentum in the crypto space, the majority of the cryptocurrencies are struggling badly. But the majority of the new meme Cryptocurrency is getting attention significantly.
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