Dogecoin News Today: Why Dogecoin's Plunge Mirrors DOGE Agency's Collapsing Credibility

Dogecoin (DOGE) plunged 10.2% to $0.1455 on November 24, 2025, as its price approached a critical $0.143 monthly support level, according to market data. The cryptocurrency's decline coincided with renewed scrutiny of the Department of Government Efficiency (DOGE), the Trump-era initiative aimed at streamlining federal operations, which has effectively dissolved eight months before its mandated 2026 end date. The agency's abrupt termination has raised questions about the sustainability of rapid government restructuring and the transparency of its claimed cost savings, which were cited as reaching $214 billion.

DOGE, launched in January 2025 as a flagship project of Trump's anti-bureaucracy campaign, was initially championed by Elon Musk, who used his X platform to promote its mission. Musk famously brandished a chainsaw at the Conservative Political Action Conference in February 2025, declaring it a tool to "cut bureaucracy" according to reports. However, the agency's lack of detailed public financial reporting has left its achievements unverified, with critics noting that savings figures were inflated or overstated as data shows. Despite these challenges, Trump administration officials, including White House spokeswoman Liz Huston, have maintained that the initiative continues to fulfill its mandate to reduce government waste according to statements.

The dissolution of DOGE has been marked by quiet transitions rather than public announcements. Former DOGE Administrator Amy Gleason, for instance, has shifted to advising the Health and Human Services Secretary, while staff members have dispersed to other federal roles or new entities like the National Design Studio, led by Airbnb co-founder Joe Gebbia according to reports. Meanwhile, key Trump policies associated with DOGE, such as a government-wide hiring freeze, have also been lifted as analysis indicates. The agency's collapse has left a void in its stated mission to shrink federal operations, with Republican-led states like Idaho and Florida now establishing their own DOGE-like entities according to reports.

The market reaction to DOGE's dissolution reflects broader skepticism about its impact. While the White House insists the agency's goals remain active, the lack of concrete data and the departure of high-profile figures like Musk have eroded public confidence. For Dogecoin, the price drop underscores the cryptocurrency's volatility and its symbolic ties to DOGE's high-profile but short-lived experiment in government reform.