{"id":56001,"date":"2025-04-01T11:09:26","date_gmt":"2025-04-01T11:09:26","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=56001"},"modified":"2025-04-01T11:09:26","modified_gmt":"2025-04-01T11:09:26","slug":"did-elon-resign-from-doge-dogecoin-millionaires-go-broke-with-elon-musk","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=56001","title":{"rendered":"Did Elon Resign From DOGE? Dogecoin Millionaires Go Broke With Elon Musk"},"content":{"rendered":"<p>Did Elon Resign From DOGE? No, not yet. But anathema is mounting, especially new criticism<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"noopener\"> from crypto investors<\/a> that Elon, a non-American noncitizen, used the U.S. Presidency (with Trump\u2019s approval) to shill Dogecoin to Americans, using Americans buying on the DOGE govt entity news as blatant exit liquidity.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">What started as a tongue-in-cheek nod to Dogecoin now seems more deliberate. Musk insists the agency has nothing to do with <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"noopener\">the meme token<\/a>, but the crypto world isn\u2019t buying it.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">The absence of corruption lawsuits around DOGE cases raises more questions than answers. The department\u2019s true intent and Musk\u2019s agenda remain wide open for debate.<\/p>\n<div class=\"chart crypto-chart-instance\">\n<div class=\"chart__header\">\n<div class=\"chart__info\">\n<div class=\"chart__info-icon\"><\/div>\n<div class=\"chart__info-name\">&#8211;<\/div>\n<div class=\"chart__info-label\">Price<\/div>\n<div class=\"chart__info-label\">Market Cap<\/div>\n<div class=\"chart__info-value\">&#8211;<\/div>\n<div class=\"chart__info-value\">&#8211;<\/div>\n<div class=\"chart__info-value\">&#8211;<\/div>\n<\/div>\n<div class=\"chart__controls\">\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--24h\">24h<\/button><br \/>\n                <button class=\"chart__button chart__button--7d\">7d<\/button><br \/>\n                <button class=\"chart__button chart__button--30d\">30d<\/button><br \/>\n                <button class=\"chart__button chart__button--1y\">1y<\/button><br \/>\n                <button class=\"chart__button chart__button--all-time\">All Time<\/button>\n            <\/div>\n<div class=\"chart__controls-group\">\n                <button class=\"chart__button chart__button--logarithmic\">Log<\/button>\n            <\/div>\n<\/div>\n<\/div>\n<div class=\"chart__container\"><\/div>\n<\/div>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">Did Elon Resign From DOGE? The D.O.G.E. Name Confusion<\/h2>\n<p>Musk didn\u2019t overthink naming the Department of Government Efficiency. The internet told him to ditch \u201cGovernment Efficiency Commission\u201d for something better, and he listened.<\/p>\n<p>But February 2025 added potential SEC troubles into the mix. Dogecoin\u2019s<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/neiro-is-not-impressed-by-new-dog-cocoro-atsuko-sato-drops-blog-bomb-dogecoin-traders-react\/\" target=\"_blank\" rel=\"noopener\"> iconic Shiba Inu<\/a> briefly appeared on the department\u2019s site, driving the token\u2019s value up 14%. The reaction was instant, but Musk was just as quick to deny any link.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">\u201cThere are no plans for the government to use Dogecoin or anything, as far as I know,\u201d Musk clarified at a town hall meeting in Green Bay, Wisconsin. \u201cWe\u2019re just literally trying to make the government 15% more efficient.\u201d<\/p>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">Dogecoin Millionaire Numbers Drop<\/h2>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">While the association with D.O.G.E. initially buoyed Dogecoin\u2019s value, broader economic factors have had a more lasting impact. According to recent data, the number of Dogecoin millionaire addresses plummeted by 41.37% between January 21 and March 31, with over 964 addresses disappearing.<\/p>\n\n<p>(<strong><a class=\"general-link\" href=\"https:\/\/finbold.com\/over-40-of-dogecoin-millionaires-wiped-out-since-elon-musk-began-d-o-g-e\/\" target=\"_blank\" rel=\"noopener\">Finbold<\/a><\/strong>)<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">This decline mirrors a 50% drop in Dogecoin\u2019s price during the same period, signaling waning enthusiasm for the token. The most significant collapse came from mid-tier holdings, where addresses containing between $100,000 and $999,999 in DOGE dropped nearly 50% in just over two months.<\/p>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Despite these numbers, smaller holders seem undeterred, with many continuing to make small bets on the meme token\u2019s future.<\/p>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">Wider Implications for the Crypto Market<\/h2>\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">Musk\u2019s clarification that DOGE, the department, has no direct connection to Dogecoin has left fans disappointed but pragmatic.<\/p>\n<p>Dogecoin\u2019s shrinking pool of millionaires likely points to the <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/liberation-day-usa-2025-crypto-market-braces-for-trump-tariff-nuke\/\" target=\"_blank\" rel=\"noopener\">broader crypto slump<\/a>, not Musk\u2019s remarks.<\/p>\n<p>His advisory position at D.O.G.E., while largely symbolic, adds a layer of intrigue. Created in the Trump era to pare down government costs, the department has yet to show tangible results outside the initial <a class=\"general-link\" href=\"https:\/\/www.youtube.com\/watch?v=4wNJQQWMqgE&amp;t=1s&amp;pp=ygUSaWtlIGJlbnogam9lIHJvZ2Fu\" target=\"_blank\" rel=\"noopener\">USAID controversy<\/a>. Musk\u2019s flair for branding may grab attention, but its real significance remains unclear.<\/p>\n<h2 class=\"font-bold text-body leading-[24px] pt-[12px] pb-[2px] [&amp;_a]:underline-offset-[6px] [&amp;_.underline]:underline-offset-[6px]\">What This Means for Dogecoin<\/h2>\n\n<p class=\"text-body font-regular leading-[24px] pt-[9px] pb-[2px]\">While Musk clarified that the department is unrelated to Dogecoin, his association with the token continues to affect sentiment within the market. The recent dip serves as a reminder of the volatile nature of cryptocurrencies where celebrity influence can cause brief surges but not necessarily sustain long-term growth.<\/p>\n<p><strong>EXPLORE: <a href=\"https:\/\/99bitcoins.com\/cryptocurrency\/new-cryptocurrency\/\">Best New Cryptocurrencies to Invest in 2025 \u2013 Top New Crypto Coins<\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"noopener\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/a><\/strong><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<p>        Did Elon Resign From DOGE? No, not yet. But anathema is mounting, especially new criticism from crypto investors.    <\/p>\n<p>        Musk\u2019s clarification that DOGE, the department, has no direct connection to Dogecoin has left fans disappointed but pragmatic.    <\/p>\n<p>        His advisory position at D.O.G.E., while largely symbolic, adds a layer of intrigue.    <\/p><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/did-elon-resign-from-doge-dogecoin-millionaires-go-broke-with-elon-musk\/\">Did Elon Resign From DOGE? Dogecoin Millionaires Go Broke With Elon Musk<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"<p>Did Elon Resign From DOGE? No, not yet. But anathema is mounting, especially new criticism from crypto investors that Elon, a non-American noncitizen, used the U.S. Presidency (with Trump\u2019s approval) to shill Dogecoin to Americans, using Americans buying on the DOGE govt entity news as blatant exit liquidity. What started as a tongue-in-cheek nod to [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":56002,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-56001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56001"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56001"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/56001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/56002"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}