Musk Ditches D.C.’s Dogecoin Obsession—What’s Next for the Meme Coin?
Elon Musk’s latest pivot leaves Washington’s crypto hype train in the dust—again. The DOGEfather’s silence speaks louder than any tweet, sparking fresh volatility in the meme coin’s rollercoaster saga.
Meanwhile, Wall Street ’experts’ still can’t decide if it’s a currency or a joke. Pro tip: When the suits finally figure it out, the ship will have already mooned.
Elon Musk and Politics: A Risky Obsession
Musk now admits what many had suspected—he got too deep into politics. In several interviews, including one with Ars Technica, he confessed that his involvement with DOGE distracted him from Tesla. He said his time in Washington was “probably too high” and that he has scaled it back. This shift in focus seemed to please investors, as Tesla shares rose over 5% following his announcement.
Still, Tesla’s financials show trouble. First-quarter profits dropped 80%, and the stock is down nearly 6% this year. Critics say Musk’s political detours hurt Tesla’s momentum. Pension fund leaders are even urging Tesla’s board to demand 40 hours a week from Musk if he wants future pay packages. The message is clear—Wall Street wants Musk focused on business, not the WHITE House.
Elon Musk Thanks Trump, But Slams GOP Spending
Despite leaving his government role, Musk continues to stir political waves. He publicly thanked Trump for the opportunity to lead DOGE but didn’t hold back when criticizing a Republican spending bill. Musk said the bill, passed in May, undermines everything DOGE was trying to do. He warned it WOULD increase the national deficit and erase any cost-cutting gains.
This criticism shows a clear rift between Musk and the GOP, despite his alignment with Trump on other issues. It also highlights the complexity of Musk’s role in Washington—both an insider and a disruptor. While he championed Trump’s agenda, he wasn’t afraid to call out what he saw as bad policy.
Elon Musk’s DOGE Era Was Brief but Explosive
The DOGE experiment was short-lived, but it left a mark. For nearly four months, Musk ran what some called a slash-and-burn campaign against the federal bureaucracy. His team pushed through layoffs, canceled contracts, and closed offices. Supporters say he cut red tape. Critics call it chaos.
DOGE claimed to reduce the federal workforce by over 260,000 jobs. That’s about 12% of the total. While Trump stood by Musk, others in his administration weren’t so sure. Behind the scenes, tensions grew between Musk and several high-ranking officials. With lawsuits piling up and backlash growing, Musk’s retreat may have come just in time.
What’s Next for Elon Musk and DOGE?
Elon Musk says he’ll still spend “a day or two per week” on government work until the end of Trump’s term. But his main focus will return to Tesla, SpaceX, and xAI. He also plans to keep a small office at the White House, hinting he’s not entirely done with politics. However, the DOGE chapter is officially closing—for now.
Whether DOGE becomes a permanent fixture in U.S. politics or fades away remains to be seen. What’s clear is that Musk’s time in Washington stirred the pot. He shook up how things are done in D.C., made headlines, and once again proved he’s anything but predictable.
Elon Musk, DOGE, White House, politics, Trump.
