Dogecoin will not be used by the Government; Drops in price

[EFS]

Right now, there isn't a major drop in DOGE but I think this is a very healthy situation. DOGE existed before Elon and it will continue to exist after him. It's not a coin dependent on a single person. When people think of meme coins, DOGE is the first one that comes to mind. It won't give up its throne to others.

It's good for the crypto market to move away from the influence of figures like Trump and Musk. No one should hold all the power alone or be able to manipulate the market entirely.

[mich]

Well I did think the US Government was going to be using this meme coin. And when Elon Musk made the Department of Government Efficiency I did think we would see some very big gains.
But the meme coin is not having a good week down 17 percent. But the good thing about this is we can buy the tokens for cheap now and just hodl them. I do think we will see a all time high but we have along way to go for .73.

[Hispo]

...

Does Elon not have much influence on the government as much as we think or he just did not push for doge at all?

It could be because it's creation Dogecoin was supposed to be a joke, a Memecoin, which was not supposed to be taken seriously by anyone and just have some kicks and laughs at the fact it was an asset with relatively high liquidity on the market.
Also, it could be Dogecoin has pretty much an unlimited supply and hence it is considered to be an inflationary asset, which could be counter-productive in terms of keeping it as a reserve assets within the Federal government of the United States.

It does not matter whether Dogecoin is the favorite decentralized asset of Elon Musk, he also need to keep some façade of common sense and not make to believe the rest of the American population he is literally pushing an asset into the strategy reserve because it is favorite among the thousands of alternative currencies floating around in this space.

[moneystery]

i just don't see why anyone would think that a memecoin like dogecoin could be used by the government, when there are so many better and more credible cryptos than dogecoin... and also, i don't think the us government would adopt dogecoin at any point, they would rather adopt a more popular crypto like bitcoin, xrp or solana, as they see that memecoin has extreme volatility and lack of fundamentals, which makes it impossible for the government to adopt it. and even elon musk has no power to change that.

[GigaBit]

Does Elon not have much influence on the government as much as we think or he just did not push for doge at all?

After the hype in meme coins, it becomes worthless or most of the time there is a big drop in price. That is why the US government will never recognize meme coins as a reserve currency. They will definitely not take such a risk. Again, it is no secret that Elon Musk has a deep relationship with Dogecoin. Maybe this is why he is unable to request his coin to be the reserve currency of the US government. Moreover, the assumption that Dogecoin will be kept as a payment method for X for a long time has not happened. Elon Musk is a big businessman. He understands more than others. Moreover, it is seen in his policy that he is playing an important role in reducing jobs including layoffs for profit, which is not in US history. That is why it is certain that his Dogecoin will not be able to shed any light in the future.

There is no denying that Elon Musk certainly has a lot of influence in the government. But recently, Americans have been complaining about him. Even his behavior is getting angry and he is being ridiculed in the United States. I don't think he will make any good plans with Doge. His only goal is to slightly influence ordinary investors and to be profited from their investment.


Source

Elon Musk is appointed to work with the current government which his Dogecoin coin has a good resemblance to, but it is not in reality. We know that he got the job as The head of the Department of Government Efficiency (DOGE) which although it is similar to his meme coin but not in reality.

[shinratensei_]

Does Elon not have much influence on the government as much as we think or he just did not push for doge at all?

as much as I like doge coin as a meme but I think this decision makes a lot of sense, why should anyone even include a meme coin, the thing here is people consider meme coin as pump and dump scheme while XRP and SOL, as bad as it is, still something that's being considered more legitimate than a meme coin.

I think the reasoning behind this is simple, to not tarnish their own reputation.
lets be real, people will consider including meme coin to strategic crypto reserve as a joke.

[justdimin]

I think it is only right for some memecoins to not be part of the plans of the government. Not all cryptocurrencies can and should be part of the strategic reserve. This will undermine the novelty of bitcoin being part of strategic reserve and as a currency. But I also am confused since XRP and Solana were mentioned by Trump to be added to the strategic reserve. It made me question why not doge since Elon Musk is such a known close associate of Trump.

Just for the reason of 'showcasing as clean' and for proving not be highly associated with Elon Musk, I guess dogecoin was left from the list of strategic reserve. What an unexpected situation for dogecoin and its investors. It is pure politics or pure corporate stunts. Elon is a pure corporate who just want to make money and dogecoin is not the only way for him. I mean to say, Elon Musk might have adapted other coins as well and for making money, he does not need dogecoin to be the part of strategic reserve. Elon will make money either way but the investors who decide to choose dogecoin just because of Elon are real victim here, in my opinion.

Doge is not part of the reserve and that is just it.

You mean to say, the new government agency D.O.G.E was named for no reasons? I do not think so. There could be some hidden agenda beyond our guess work. Let's wait and watch, no other go.

[Zanab247]

Well I did think the US Government was going to be using this meme coin. And when Elon Musk made the Department of Government Efficiency I did think we would see some very big gains.
But the meme coin is not having a good week down 17 percent. But the good thing about this is we can buy the tokens for cheap now and just hodl them. I do think we will see a all time high but we have along way to go for .73.

Every government want to make use of the memecoin they trust before they can decide to make the memecoin for their reserve, because that is nation wealth and if anything happen to the memecoin in their reserve, it will make the government of U.S loss some billions which is the reason they will not chose anyhow memecoin.

Any tokens government is hodling in their reserve, I guess the price will be low for people to buy and hodl to watch the movement of the tokens, which such tokens will surely bring good profits to their investors.
I know memecoins will not be like BTC in terms of pumping long before dumping, because BTC have more capacity than memecoins for long pumping which is the reason investors use to gain massive profits from BTC than memecoins.

[Renampun]

Elon Musk announces that as far as his information goes, dogecoin is not being considered by the US government. This has caused for a decline in price of dogecoin but what do you think of this information regardless if you are holding doge or not.

I think it is only right for some memecoins to not be part of the plans of the government. Not all cryptocurrencies can and should be part of the strategic reserve. This will undermine the novelty of bitcoin being part of strategic reserve and as a currency. But I also am confused since XRP and Solana were mentioned by Trump to be added to the strategic reserve. It made me question why not doge since Elon Musk is such a known close associate of Trump.

Does Elon not have much influence on the government as much as we think or he just did not push for doge at all?

Since the beginning, Elon Musk has stated that he has nothing to do with Dogecoin, he just shilled about Dogecoin since the beginning but many people think he has something to do with the Dogecoin development team, speculators really know the moment. Currently, Elon Musk is leading D.O.G.E but has nothing to do with Dogecoin so don't expect the price of Dogecoin to reach $1, that's impossible.

[CroverNo01]

Right now, there isn't a major drop in DOGE but I think this is a very healthy situation. DOGE existed before Elon and it will continue to exist after him. It's not a coin dependent on a single person. When people think of meme coins, DOGE is the first one that comes to mind. It won't give up its throne to others.

It's good for the crypto market to move away from the influence of figures like Trump and Musk. No one should hold all the power alone or be able to manipulate the market entirely.

Donald Trump have other obligations and he wouldn't just relent on crypto projects, he's making more good moves. Manipulation in the market is definitely something we should try our possible best to avoid because the ends never suits our taste. Talking out of experience and we know how the market is already operating. DOGEcoin may not be dependent on Elon Musk but you and I know the level of work put in by this particular whale. Elon Musk understand the market, he can couple up more projects to his very taste, all he needs is simply say the word because he has the capacity and influence heavily directed towards the market.

[Bushdark]

Elon Musk announces that as far as his information goes, dogecoin is not being considered by the US government. This has caused for a decline in price of dogecoin but what do you think of this information regardless if you are holding doge or not.

I think it is only right for some memecoins to not be part of the plans of the government. Not all cryptocurrencies can and should be part of the strategic reserve. This will undermine the novelty of bitcoin being part of strategic reserve and as a currency. But I also am confused since XRP and Solana were mentioned by Trump to be added to the strategic reserve. It made me question why not doge since Elon Musk is such a known close associate of Trump.

Does Elon not have much influence on the government as much as we think or he just did not push for doge at all?

Since the beginning, Elon Musk has stated that he has nothing to do with Dogecoin, he just shilled about Dogecoin since the beginning but many people think he has something to do with the Dogecoin development team, speculators really know the moment. Currently, Elon Musk is leading D.O.G.E but has nothing to do with Dogecoin so don't expect the price of Dogecoin to reach $1, that's impossible.

Because Elon keeps shilling about Doge does not mean that he's in partnership with them. He has already make it known to many that he is not in any partnership or have nothing to do with Doge so anybody that thinks Elon will keep shilling Doge for as long as possible maybe doing themselves harm. The price could fall but will still retain it balance because that's the kind of memecoins and we need to understand that fact. Let's keep watching how this will play out now that we have known that Elon has nothing to do with Doge.

[gunhell16]

Does Elon not have much influence on the government as much as we think or he just did not push for doge at all?

Elon Musk is extending Doge so much, there are better coins that deserve to be on the US government list; if he wants to shill Doge do it in his own backyard and do not interfere with the government. Elon should not interfere in the government's policy; he is a profit-driven person; all his decisions will be to advance his companies and his interests.

Even if the US government declined regarding Dogecoin, there is nothing we can do about it because for sure they did that because they have higher priorities than that matter. Maybe right now they can't pay attention to it but in the coming times it is possible that they will pay attention to it.

So the doge community is probably still staying positive, because even if this doesn't happen, they will still have the option to make dogecoin a payment mode on Elon Musk's X platform or maybe Elon Musk is already using it in my opinion.