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

[kotajikikox]

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?

[Charles-Tim]

But you need to ask yourself again that the coins mentioned like XRP, SOL and ADA, why are they also not yet part of it? Also why no coins will be bought yet but only confiscated coins will be used.

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

People will only be guessing. The people that can answer this accurate are Elon Musk and Trump themselves. I do not think we need to discuss this at all. Doge is not part of the reserve and that is just it.

But probably more coins can be added later.

[doubletheprof]

Elon can still use it in some of his projects regardless oof goverment

[Tipstar]

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?

Memecoin means hype and volatility. Strategic reserves needs to be somewhat stable. Strategic reserve like gold are kept in hope of them beating the fiat inflation and keep on appreciating in value. Any crypto strategic reserve too needs to be similar to gold.
Even though Elon Musk is close to Trump administration, it doesn't mean he would take every suggestion. Furthermore Elon is unlikely to suggest adding Dogecoin as he too knows how memecoins works. It's different than hyping a coin and dumping during the pump. Here, it could cause legitimate trouble if coins are added to strategic reserve without extensive strategy.

[AVE5]

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.

As far as this has got to do with politics, I'm not taking it too personal. If you think Doge coin was going to be useless just because the US government didn't not endorse it in the Federal reserve then you're getting it wrong because the crypto reserve project was just a recent propose and before now, Doge coin has been performing well so the fact it isn't among the US reserve doesn't get it to an end.
Don't also think Elon Musk and Trush don't know what they're doing. Why don't they as well endorsed the $trump? These are just politics so it doesn't look like they just want to pull on empowering their own resources. We also know the relationship between Doge coin and Elon Musk being the Doge coin father with his significance associates with the coin.
Let's just watch out what happens in the nearest. Most of the unexpected will happen and the least of the Memecoins will take place to the top in the Solana network.
All these happening around in the meantime is just politic strategies.

[asriloni]

Finally, Elon has completed his mission to use Doge coin only to pump and dump purpose. I believe his words is all make sense considering why would US to use meme token with no intrinsic value? They're stupid enough if they're risking their financial by including meme token on their plan.

The era of meme token hype may be comnig to its end. No more chance for meme token to enter US. Hopefully, they're not also planning to use Trump coin too.

[lab10collective]

Whole crypto market is facing decline. Doge is just a meme coin and will not replace as a mean of payment. Some people have over expectations from such kind of coins. Crypto is high risky investment especially coins like dogs which is pumped many x just by pushing from one person. We have to be careful about these coins.

[Kavelj22]

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.

But who would have expected the US government to add a memecoin to its strategic reserve, even if Trump had hinted at it? It's already called "strategic".
Surely they would be the dodge hodlers who believes Elon Musk decides whatever he wants and the US government will carry out his orders without question. LOL
Sometimes minds become naive to the point of extreme stupidity.

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.

The idea of ​​diversifying reserves with cryptocurrencies doesn't seem practical at all. Simply because no cryptocurrency can be as reliable as Bitcoin, due to the difficulty of achieving decentralization and the market power of these cryptocurrencies. While DodgeCoin is not suitable for inclusion in the US reserve, there are other cryptocurrencies that are more efficient than DodgeCoin and have a promising future, but they are also not suitable for inclusion in the reserve portfolio of the world's most powerful economy.
I have explained this point in several previous posts and thought it was a no-brainer. However, I am constantly surprised by the naivety of some of these ideas.

[Yaunfitda]

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's obvious that Elon might have his own intentions not to include Doge, like he doesn't have any as he could have sold it during Doge historic run last cycle. And with that, he has no vested interest on it. And I think it's all good for Doge though, at least they will have to disconnect to Elon Musk and might have their own path now. Although the price is really way below it's last all time high. But to be fair with Doge, altcoin market is still bleeding so most likely the effect is going to be minimal. And we have seen the Doge already established itself even before Musk enter the picture, so I must say that Doge investors will continue to exist no matter what. It could still be a meme coin though, but at least it's the first one that's why it has still the support of the community.

[aioc]

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.

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

Well, that's good that the federal government is not going to do this; just imagine if they allowed it, Doge will have a massive pump, and we will have more memes launching in the market, and there is a possibility that Doge will challenge Bitcoin's supremacy in the market.
We are flooded with so many memes in the market; many of them do not have a  usecase. The community does not have another massive pump from a meme like Doge; there will be a domino effect if this happens.

[FortuneFollower]

Whole crypto market is facing decline. Doge is just a meme coin and will not replace as a mean of payment. Some people have over expectations from such kind of coins. Crypto is high risky investment especially coins like dogs which is pumped many x just by pushing from one person. We have to be careful about these coins.

We can't say that the risks can't be minimized though, especially on the bigger coins that can be hodled.

On the government level - surely, we don't need such coins up there.

On a scale of some enthusiasts going in them - surely, it's a chance to pick such coins and decide for yourself.

[coin-investor]

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

Even if he has influence on the government, the government should not allow it when it comes to reserves; he can influence other areas of the government but not reserves.
Elon just wants to make another wave of pump for Doge, There are coins with better usage than Doge we've had enough of memes and if they allow it, I'm sure we will receive tons of new memes flooding the market and many investors will lose money with these new memes coming. With this, it stopped the meme momentum in the market.

[Cryptohygenic]

Finally, Elon has completed his mission to use Doge coin only to pump and dump purpose. I believe his words is all make sense considering why would US to use meme token with no intrinsic value? They're stupid enough if they're risking their financial by including meme token on their plan.

The era of meme token hype may be comnig to its end. No more chance for meme token to enter US. Hopefully, they're not also planning to use Trump coin too.

It was really taking a surprise when it was announced and mentioned of the meme coins that will be included in the US reserve.
Meme coins we know have not been of good to hold for too long so I don't know how they think they are going to store the national value there of as a store of value or hedges against inflation.
Well, I think they knows better. Let's not also forget the impact of politics and social hypes of the memes coins which if successfully the US government invests on the above-mentioned memes, that also would take absolutely control of it and keep on the political rides and investing on the hypes for the growth of the crypto markets in lign of the coins they have invested on.
Don't forget that the crypto market can be manipulated and the US government are key holders of the global economy.

[Zanab247]

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 Elon musk play some roll over U.S election that made cryptocurrencies users to supported the new administration to be into power today, I guess the government will consider dogecoin to be part of their coins reserve for dogecoin teams to benefits from the government. We know that many government always choose BTC as the first coin to be in their reserve before chosing other cryptocurrencies to be in their reserve to boost their economic of the country, which is what this current president is trying to do to reduce the global inflation.

Anything can happen before the final announcement from the Trump about the coins to be their reserve, and I have that confident that dogecoin will be among the coins that will be in U.S reserve.

[avikz]

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?

Lol! Does that mean people have actually expected that dogecoin will be accepted by the US government some day??? That's crazy speculation!

People might have forgotten that dogecoin is a memecoin. Having a department name as DOGE doesn't actually mean nothing for the dogecoin in reality.

I appreciate Elon Musk for spitting the truth and burst the bubble. It's always better to set the expectations right.

[kotajikikox]

But you need to ask yourself again that the coins mentioned like XRP, SOL and ADA, why are they also not yet part of it? Also why no coins will be bought yet but only confiscated coins will be used.

Is bitcoin officially part of the reserve already? From what I know, Trump is only announcing the plans. And the government is not ready to risk too much so they will just use confiscated coins.

People will only be guessing. The people that can answer this accurate are Elon Musk and Trump themselves. I do not think we need to discuss this at all. Doge is not part of the reserve and that is just it.

But probably more coins can be added later.

It just made me curious since if not doge, what other coins can be added to the reserve?

[judeafante]

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.

[Gozie51]

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 Elon musk just wants to reduce the noise and clear the about dogecoin used as strategic reserve alongside Bitcoin. This has got nothing to do with the price of dogecoin. Elon musk still hodls alot of doge and I don't think he is dumping any yet. If such announcement was responding for the price reduction then it would have also increased the price when Department of Government Efficiency (DOGE) was announced too. So the doge price is just responding to the price of bitcoin like other cryptocurrency are going down too.

[Z390]

Do you even understand what OG coins are all about? They give better feeling to their investors because they have tasted the test of time and they survived, Dogecoin will always be here with or without Elon, many investors will still choose to buy Doge coin over the likes of Pepe and Bonk.
Don't forget that mining Doge coin is also profitable, this is a plus utility for Doge coin, since it is a Proof of Work coin, this coin will survive than the majority of newer coins today. Something that all other coins don't have is the PoW advantage.
If I have to choose any meme coins for my portfolio Doge coin is the only one that makes sense, even if I fail to sell at the top I can leave it for few years and still will be here.

[lixer]

Whole crypto market is facing decline. Doge is just a meme coin and will not replace as a mean of payment. Some people have over expectations from such kind of coins. Crypto is high risky investment especially coins like dogs which is pumped many x just by pushing from one person. We have to be careful about these coins.

Yeah we all know it but maybe Doge is just more different since it has its own faced issues. Doge is not just a simple meme coin but it is like BTC too, that gives inspiration to the many meme coins. No wonder why many serious companies trust it but to say that it will replace an established payment method, yeah that is unlikely. Again crypto is like a BTC. It is not easy to get manipulated but yeah, there are still risks about it, so all must be careful dealing with it and other cryptos. By being careful, it is not limited to investing only what one can afford but also use a non-custodial wallet and watch about the scams and hacks.