Dogecoin News Update: How Dogecoin’s Decline Reflects the Waning Trust in DOGE Agency

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Dogecoin News Update: How Dogecoin’s Decline Reflects the Waning Trust in DOGE Agency

Bitget-RWA2025/11/26 20:00

By:Bitget-RWA

- Dogecoin (DOGE) dropped 10.2% to $0.1455 as the Trump-era DOGE agency dissolved eight months early. - The agency, aimed at streamlining federal operations, faced scrutiny over unverified $214B savings claims and lack of transparency. - Elon Musk’s promotion of DOGE and its abrupt termination eroded credibility, mirroring the cryptocurrency’s volatility. - Key DOGE policies like hiring freezes were lifted, while states like Idaho and Florida created similar entities.

On November 24, 2025, Dogecoin (DOGE) experienced a sharp 10.2% decline, falling to $0.1455 as it neared a crucial monthly support at $0.143, based on market reports. This drop occurred alongside renewed attention on the Department of Government Efficiency (DOGE), a Trump-era program designed to optimize federal operations, which

was officially disbanded eight months

ahead of its scheduled conclusion in 2026. The sudden closure has sparked debate over the viability of swift government overhauls and the clarity of its reported cost reductions, which

were reported to total $214 billion

Launched in January 2025 as a centerpiece of Trump’s campaign to cut bureaucracy, DOGE initially received strong backing from Elon Musk, who promoted its objectives on his X platform. Musk notably wielded a chainsaw at the Conservative Political Action Conference in February 2025, calling it a symbol to "eliminate red tape"

as reported

. Yet, the agency’s limited public financial disclosures have left its accomplishments unconfirmed, with detractors arguing that the savings were exaggerated

according to available data

. Despite these criticisms, Trump administration representatives, including White House spokesperson Liz Huston, have asserted that the program is still meeting its objective of reducing government inefficiency

according to official statements

The winding down of

DOGE

has occurred with little public attention. Amy Gleason, the former DOGE Administrator, has taken on an advisory role with the Health and Human Services Secretary, while other staff have moved to various federal positions or joined new organizations such as the National Design Studio, which is led by Airbnb co-founder Joe Gebbia

according to sources

. At the same time, major Trump-era policies tied to DOGE, including a freeze on federal hiring, have now been reversed

as recent analysis shows

. The agency’s dissolution has left its mission to reduce federal bureaucracy unfulfilled, prompting Republican-controlled states like Idaho and Florida to create their own versions of DOGE

according to reports

The market’s response to DOGE’s shutdown highlights widespread doubts about its effectiveness. Although the White House maintains that the agency’s objectives are still being pursued, the absence of verifiable results and the exit of prominent supporters such as Musk have weakened public trust. For

Dogecoin

, the recent price slump illustrates both its inherent instability and its association with DOGE’s ambitious but brief attempt at government reform.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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