Elon Musk's DOGE Project Sparks MOVE Token Surge

Movement Token (MOVE) has witnessed a significant price surge amid rumors of potential talks with Elon Musk’s DOGE project. The modular network, Movement Labs, is reportedly in contact with the organization, although these reports remain unconfirmed. World Liberty Financial, a decentralized finance platform associated with Donald Trump, has also purchased around $2 million in MOVE tokens, suggesting some correlation between the company and Trump’s administration.

The Department of Government Efficiency (D.O.G.E.), a new quasi-government organization, is exploring blockchain’s use cases for reducing government spending. Several key figures, including Elon Musk, are involved, and rumors began circulating today that Movement Labs is advising D.O.G.E. Its co-founder, Rushi Manche, alluded to these rumors after World Liberty Financial started buying MOVE earlier today. “The strategic MOVE stockpile. We are proud to be the first altcoin, first modern blockchain platform, and first alternative virtual machine under the new administration. MOVE is Made in America,” Manche claimed on X (formerly Twitter).

There are no confirmed details about this potential collaboration, but these D.O.G.E. rumors have caused huge spikes in Movement Labs’ MOVE token. The token gained nearly 100% after launching on Binance in December 2024. Within a week of launch, it reached a peak price of $1.45 and a market cap of $2.7 billion, but it saw consecutive corrections. Earlier this month, Movement Labs announced $100 million in Series B seed funding. After these rumors took off, MOVE jumped up over 15%.

In general, it seems safe to assume that Movement Labs is contributing to D.O.G.E.’s existing inquiries. Musk directed the Department to explore blockchain’s use cases for reducing government spending, so the company is probably tackling this question. However, the firm is yet to make any affirmation of these rumors or any other potential indicators other than the latest World Liberty Financial investment.