DOGE -53.85% in 1 Year as Federal Department Dissolves Prematurely

The Department of Government Efficiency (DOGE), a flagship initiative launched by President Donald Trump to streamline federal operations and reduce spending, has been officially disbanded, marking a quiet but definitive end to its eight-month-early closure. While the department was intended to run through July 2026, Scott Kupor, director of the Office of Personnel Management (OPM), confirmed to Reuters that DOGE no longer exists as a centralized entity. Many of its functions have now been absorbed by OPM, and former DOGE staff have transitioned to new government roles.

DOGE, initially led by Elon Musk, gained attention for its aggressive cost-cutting measures and bold promises of eliminating wasteful government spending. Musk famously promoted the department with a chainsaw, symbolizing his commitment to “cutting bureaucracy.” Over the course of its brief existence, DOGE claimed to have identified and canceled contracts with a total ceiling value of over $1.9 billion in a span of nine days, including IT services and broadcasting contracts.

However, these efforts have faced significant scrutiny due to a lack of transparent accounting. While DOGE touted billions in savings, outside experts and financial analysts struggled to verify the figures due to limited public documentation. This lack of clarity has fueled skepticism about the department’s true impact.

Some former employees have raised concerns over the legality and ethical boundaries of DOGE’s aggressive restructuring, particularly regarding its methods for terminating contracts and personnel cuts.

Despite the dissolution of DOGE, several of its initiatives—such as the government-wide hiring freeze—have already ended, with no set targets for staff reductions in place. The Trump administration has continued to express a commitment to reducing waste and inefficiency, but the absence of a centralized entity like DOGE suggests a shift toward more traditional approaches to federal management.

Meanwhile, DOGE’s namesake cryptocurrency token continues to trade, though it has faced a significant downturn. On NOV 24 2025, DOGE rose by 0.57% within 24 hours to $0.14535, but it has declined by 9.83% over seven days and 21.78% in the past month. Over the last year, the token has lost 53.85% of its value.

Grayscale Investments has launched spot ETFs for Dogecoin and XRP, set to begin trading on NYSE Arca on the same day as DOGE’s dissolution. These developments reflect ongoing investor interest in the token despite the closure of the department tied to its name.

With DOGE’s early end, the broader implications of its short-lived mission remain uncertain. The administration continues to explore ways to streamline operations, and some former DOGE employees now hold prominent roles in various federal agencies, including the Department of Health and Human Services and the State Department. While the department is no longer active, its legacy—and the questions it raises about executive authority in federal reform—will likely persist.