DOGE Faces Setback as Court Upholds Block on Social Security Data Access
In a significant legal development, a federal appeals court has upheld restrictions preventing Dogecoin (DOGE) from accessing Social Security Administration data. This ruling deals a blow to efforts aimed at integrating cryptocurrencies with government systems, highlighting ongoing regulatory challenges for digital assets. The decision, rendered on May 1, 2025, underscores the tension between cryptocurrency innovation and federal privacy protections.
Appeals Court Upholds Block on DOGE’s Access to Social Security Data
A federal appeals court has maintained restrictions on Dogecoin’s access to Social Security Administration data, dealing a blow to the Trump administration’s efforts to expand cryptocurrency integration with government systems. The 4th US Circuit Court of Appeals ruled 9-6 to uphold an injunction originally imposed by Maryland District Judge Ellen Lipton Hollander, who found probable violations of federal privacy laws.
The case centers on SSA’s attempted data sharing arrangement with DOGE, the Elon Musk-led government agency. White House spokesperson Liz Huston indicated the administration will pursue all legal avenues to challenge the decision, framing the matter as an issue of executing public will. Legal observers note this ruling creates another hurdle for crypto’s institutional adoption amid growing regulatory scrutiny.
Dogecoin Completes Bullish Rounded Bottom Pattern, Signaling Potential Rally
Dogecoin’s price action has confirmed a textbook bullish rounded bottom pattern, a technical formation often preceding significant upward momentum. The U-shaped recovery on the 4-hour chart, highlighted by crypto analyst Bitguru, suggests a decisive reversal from prior bearish trends.
Traders are now monitoring key resistance levels for confirmation of breakout potential. A successful breach could propel DOGE into a new bullish phase, with market participants anticipating heightened volatility in coming sessions.
Tesla Denies WSJ Report on CEO Succession Plans Amid Musk’s DOGE Controversy
Tesla has vehemently denied a Wall Street Journal report suggesting the electric vehicle Maker is seeking a replacement for CEO Elon Musk. The company called the claims "deliberately false," with Musk himself criticizing the WSJ for ethical breaches in publishing unverified allegations.
The controversy emerges as Musk faces investor scrutiny over his involvement with Dogecoin (DOGE)-related initiatives through the Department of Government Efficiency. Market observers had speculated the CEO succession rumors might be damage control following crypto-related backlash.
No digital assets were directly mentioned in the report, though Musk’s history with DOGE continues to create Ripple effects across crypto markets. The swift denial suggests Tesla remains committed to Musk’s leadership despite ongoing controversies at the intersection of tech and cryptocurrency.
Dogecoin Rises Amid Surging Trading Volume
Dogecoin (DOGE) climbed to $0.1762 on Thursday, marking a 0.97% gain over the past 24 hours as trading volume surged by 4.60%. Nearly $936 million worth of Doge changed hands, reflecting sustained investor interest in the meme coin.
The token has gained 2.91% over the past week, pushing its market capitalization to $26.27 billion. Market participants appear to be positioning for potential short-term upside in DOGE.
Meanwhile, Virtuals Protocol, Curve DAO Token, and Fartcoin led gainers across digital assets, while Toncoin, Optimism, and Algorand underperformed.
Trump Administration Touts DOGE-Led Cost Savings Amid Economic Contraction
President Donald Trump’s administration claims record cost-cutting achievements through the Department of Government Efficiency (DOGE), founded by Elon Musk, with purported savings exceeding $100 billion. These assertions come as the US economy contracts by 0.3% in Q1 2025—the first GDP decline since 2022—contrasting sharply with the previous quarter’s 2.4% growth and economist forecasts of 0.8% expansion.
The disconnect between White House efficiency narratives and macroeconomic reality raises questions about DOGE’s actual fiscal impact. Commerce Department data underscores the downturn’s severity, with no clear evidence linking cryptocurrency-driven initiatives to measurable economic stabilization.
Dogecoin Whales Accumulate 100 Million DOGE Amid Neutral Price Action
Dogecoin whales have aggressively accumulated approximately 100 million DOGE over the past week, injecting $17.5 million into the market. Despite this surge in demand, DOGE’s price remains stagnant, posting a mere 0.17% gain in 24 hours.
Spot traders and large holders appear aligned in their accumulation strategy, yet long positions continue to face liquidation pressure. The memecoin’s monthly gain of 3.03% suggests underlying strength, but the market lacks decisive momentum.
Santiment data reveals a growing divergence between whale activity and price performance—a dynamic that typically precedes volatility. Market participants now watch for either a breakout or further consolidation.
