Elon Musk Exits DOGE Oversight Role as Program Becomes Institutionalized
Elon Musk has officially stepped down from his position as a Special Government Employee overseeing the DOGE initiative, a program originally launched by former President Donald TRUMP to combat government waste. Musk acknowledged the President’s leadership in a social media post, highlighting DOGE’s lasting influence on federal operations. The program, which focused on scrutinizing contracts and budgets across various agencies, has now become institutionalized within the government. Currently, the price of DOGE stands at 0.20419000 USDT. This development marks a significant milestone in the integration of cryptocurrency-related initiatives into mainstream governmental processes, potentially signaling broader acceptance and institutionalization of digital assets in the financial sector.
Elon Musk Steps Down from DOGE Role as Government Efficiency Efforts Continue
Elon Musk has concluded his tenure as a Special Government Employee overseeing DOGE, the initiative launched by former President Donald Trump to combat government waste. Musk acknowledged the President’s leadership in a social media post, emphasizing DOGE’s enduring impact on federal operations. The program, which scrutinized contracts and budgets across agencies, has reportedly become institutionalized within government practices.
White House officials confirm DOGE’s ongoing integration into federal departments, with teams now reporting through standard agency hierarchies. Stephen Miller, Deputy Chief of Staff for Policy, hailed the initiative’s anti-corruption achievements as transformative for Washington. The departure of key figures like Musk and Boring Company executive Davis marks a transition to decentralized execution of the program’s objectives.
Dogecoin Forms Bullish Reversal Pattern Amid Short-Term Decline
Dogecoin’s recent 6.11% weekly decline has carved an inverse head and shoulders pattern on its 1-hour chart, signaling potential bullish reversal. The meme cryptocurrency found support near $0.215 before establishing higher lows, with technical analyst Klejdi Cuni identifying the classic reversal formation.
The pattern’s neckline resistance at $0.228 now serves as a critical threshold. A decisive breakout could propel Doge toward the $0.25 target, offering short-term traders a defined risk-reward setup. Market participants are watching whether the right shoulder completes cleanly after the May 23-24 formation period.
Dogecoin Tests Critical Support as Musk Exits Government Role
Dogecoin faces mounting pressure as Elon Musk concludes his tenure at the Department of Government Efficiency (D.O.G.E.), with the meme coin hovering NEAR a crucial $0.20 support level. A 7% drop in the past 24 hours has pushed DOGE to $0.2085, testing its 50-day EMA at $0.2061. The broader market downturn, compounded by tariff uncertainties, exacerbates the sell-off.
Technical indicators signal weakening bullish momentum. The breakdown below both the 100- and 200-day EMAs at $0.21 suggests potential for further downside. Market participants await Musk’s Oval Office meeting with former President Trump on Friday, which could introduce fresh volatility.
Liquidations are rising while open interest declines—a classic sign of waning speculative interest. Dogecoin’s weekly losses now exceed 7%, erasing much of its early May gains. The coin’s fate hinges on whether the $0.20 support holds or yields to broader crypto market headwinds.
