DOGE-Driven Austerity Measures Impact IBM’s Federal Contracts

International Business Machines Corp. (IBM) is facing significant financial repercussions due to contract cancellations and pauses initiated by the Department of Government Efficiency (DOGE) under Trump-era policies. These austerity measures, aimed at cost-cutting, have resulted in a $100 million blow to IBM, casting a shadow over the company’s otherwise strong first-quarter performance. Despite surpassing earnings estimates and providing robust revenue guidance for Q2 ($16.4 billion to $16.8 billion), the uncertainty introduced by these contract cuts has raised concerns among analysts. This development highlights the broader implications of DOGE’s cost-cutting initiatives on major corporations like IBM.

IBM Faces Contract Cancellations Linked to DOGE Cost Cuts

International Business Machines Corp. (IBM) faces a $100 million blow as the Trump-era Department of Government Efficiency (DOGE) cancels or pauses 15 federal contracts. The austerity-driven move casts a shadow over IBM’s otherwise robust first-quarter performance, where earnings surpassed estimates and revenue guidance for Q2 landed above consensus at $16.4 billion to $16.8 billion. Analysts warn the contract cuts introduce fresh uncertainty amid broader economic headwinds, including U.S. tariff pressures. DOGE—unrelated to the meme-inspired cryptocurrency Dogecoin—remains a focal point for cost-slashing initiatives. IBM’s resilience in earnings contrasts sharply with the political turbulence reshaping its government revenue streams.

Dogecoin Surges 12%, Outpaces Bitcoin in On-Chain Activity

Dogecoin (DOGE) has surged more than 12% in the past 24 hours, eclipsing both its meme-coin peers and Bitcoin in critical on-chain activity. Transaction volumes and active addresses have reached their highest levels in months, underscoring renewed enthusiasm from retail traders and large holders alike. Chart patterns suggest a potential breakout toward record highs, fueling speculation that DOGE could soon challenge its all-time peak. As the broader altcoin market stirs to life, Dogecoin stands at the forefront of what may be the early stages of a new altseason. The coin’s resilience and growing adoption continue to defy skeptics, cementing its status as more than just a joke—it’s now a fixture in crypto’s competitive landscape.

Dogecoin (DOGE) Pulls Back — Is A Bounce from $0.1650 Support on the Horizon?

Dogecoin has initiated a fresh upward movement against the US Dollar, surpassing the $0.1700 mark. Currently, DOGE is undergoing a correction but may find support NEAR the $0.1650 level. The price remains above both the $0.1650 threshold and the 100-hourly simple moving average. A key bullish trend line at $0.1760 was broken on the hourly DOGE/USD chart, based on Kraken data. A potential rebound could occur if the price manages to break through the $0.1800 resistance zone. Earlier, Dogecoin rallied past $0.1700 and $0.1800 before encountering resistance, peaking at $0.1852 before the correction began.

Elon Musk Clarifies Departure from ’DOGE’ Project, Not Dogecoin

Elon Musk has confirmed plans to step back from the Department of Government Efficiency (DOGE), a cost-cutting initiative tied to the Trump administration, starting May 2025. The announcement, made during a Tesla earnings call, cited a need to focus on the automaker following financial challenges. Musk emphasized the move has no connection to Dogecoin, the cryptocurrency.

Speculation arose after the department’s playful branding—briefly featuring the Doge mascot in February 2025—triggered a short-lived price spike for the Shiba Inu-themed token. Musk explicitly dismissed any crypto ties during an April 2025 town hall, stating, "The government isn’t using Dogecoin." The name was merely a whimsical alternative to drier bureaucratic titles.

Dogecoin Faces Price and Volume Decline Amid Market Shift

Dogecoin (DOGE) slid 5.84% to $0.1717 as trading volume contracted 15.27% to $1.65 billion, signaling waning speculative interest. The meme coin’s $25.58 billion market cap reflects a 9.61% weekly gain now being eroded by broader risk-off sentiment.

Trump-affiliated tokens and Onyxcoin led gainers while Immutable and Bonk topped losers, illustrating the volatility permeating altcoin markets. Such price-volume divergence often precedes trend reversals, particularly for assets like DOGE that thrive on retail enthusiasm.