Doge News Today: Musk Steps Down as Head of Government Efficiency Department

Elon Musk announced today the formal launch of the process to leave the Trump administration, ending his role as the head of the Department of Efficiency (DOGE).

In a statement on social media platform X, he said: “As my tenure as a special government employee is coming to an end, I want to thank the president for giving me the opportunity to reduce wasteful spending,” and emphasized that “DOGE has become a way of life for the entire government, and its mission will only strengthen over time.”

Market response and price resilience

Despite changes in the political sphere, DOGE has shown significant resilience in the cryptocurrency market. As of today, the trading price of DOGE is $0.17683, with a market cap remaining at a high of $25.89 billion.

This performance continues the strong trend of 2025. According to Cryptopolitan data, DOGE has an average price of $0.42 this year, with a low of $0.30 and a high reaching $0.55.

Technical indicators show that DOGE has recently broken through the 50-day moving average (0.145 USD), with the Relative Strength Index (RSI) close to 68, indicating that the market is showing some signs of being overbought.

Discrepancies in institutional price predictions

Analysts have significant disagreements about the price outlook of DOGE in 2025:

• CoinCodex is bullish to $1.364212, with a potential upside of over 318% from the current level.
• Changelly predicts a range of 0.23 - 0.28 USD, with a potential return of 452%.
• 99Bitcoins gives a wide forecast of 0.30 - 1.00 USD.

The differences reflect the varying weights assigned by different models to variables such as market sentiment, technological development, and regulatory environment.

DOGE ETF Progress

Today the industry welcomes a milestone event: 21Shares officially submitted a DOGE spot ETF application. This move follows the recent acknowledgment by the U.S. Securities and Exchange Commission (SEC) of Grayscale’s DOGE and Ripple ETF applications, marking a turning point in the regulatory attitude towards a more open approach.

Polymarket prediction data shows that the probability of DOGE ETF approval by the end of 2025 is as high as 74%, an increase of 37 percentage points compared to the early days of Trump’s presidency.

“The approval decision will be made based on specific circumstances, rather than opening the door for all similar assets,” emphasized Bitwise Chief Investment Officer Matthew Hougan, suggesting that the approval will not pave the way for other meme coins.

Elon Musk’s political turnaround

Musk’s decision to leave the White House is not an isolated event. This weekend, he rare publicly criticized Trump’s “big and beautiful plan,” stating, “To be honest, I am disappointed with this huge spending bill, which not only does not reduce the budget deficit but increases it, and also undermines the work done for DOGE.”

The Congressional Budget Office analysis shows that the bill will increase the U.S. federal deficit by $3.9 trillion, directly conflicting with the spending cut targets of DOGE. Musk hinted at a shift in professional focus in a post on the X platform: “I have to focus intensely on X/xAI and Tesla (as well as next week’s Starship launch), as we are rolling out several key technologies.”

Future Outlook for DOGE

It is worth noting that DOGE is demonstrating vitality beyond the celebrity effect:

• Web3 Integration Acceleration: Entering Decentralized Applications (dApps), DeFi Protocols, and NFT Markets
• Community ecosystem expansion: Twitter integration promotes significant growth in user base, deepening payment scenarios.
• Technical Foundation Strengthening: The developer community continues to optimize the underlying protocols to improve network efficiency.

The fluctuations of DOGE today reveal a deeper trend: with the 21Shares ETF application submitted and Polymarket bets showing a 74% approval probability, institutions are pushing Meme coins into the mainstream financial system.

At the same time, the application of DOGE in the Web3 field is expanding: from DeFi to NFT markets, proving that its vitality has surpassed the halo of Musk. The value foundation of digital assets is shifting from celebrity tweets to real application scenarios.