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DOGE Musk admitted that he was too involved in politics, and dogcoin fell accordingly.
Elon Musk admitted that his participation in the U.S. Department of Politics and Government Efficiency exceeded his expectations.
"I think I did get a little too involved in politics," Musk told The Economist on July 23."To be honest, I got carried away."
The price of dogcoin fell sharply after the interview was released, continuing the recent decline of the memecoin, although it was not officially linked to the government plan that shared the acronym "DOGE."
Musk reflects on his role in DOGE
U.S. President Donald Trump passed an executive order to establish the Department of Government Efficiency on January 20, 2025, with the aim of promoting federal technology modernization and improving government efficiency.
Musk became the department's most visible representative figure as it pushed to cut federal spending, contracts and staffing. His term as a special government employee is limited to 130 days, and his government role ends at the end of May 2025.
After Musk left, DOGE's cost-cutting efforts continued until the program was officially terminated on July 4, 2026.
In an interview on July 23, Musk continued to defend the department's work, but admitted that political activities had absorbed too much of his energy. His comments echoed a previous public statement that he should have prioritized corporate matters.
"I think if I did it again, I wouldn't do DOGE, but would focus on my own company." Musk had said this before.
The price of Dogecoin fell after the interview
According to market data, shortly before the interview was released, the trading price of Dogecoin was close to US$0.0723, and then fell below US$0.07.
The price of Dogecoin once fell to about US$0.0685, down more than 5% from the pre-release level. In the past seven days, its cumulative decline has also reached approximately 4.9%.
There is no connection between the Ministry of Government Efficiency and Dogecoin. However, the two share the same acronym, and Musk's public support for the memecoin over the years, have kept them closely connected in the hearts of traders.
Historically, Musk's remarks and emotional expressions on social media have always affected the market performance of Dogecoin. Dogcoin has responded quickly to Musk's statements, promotions and even jokes many times, and this time is no exception. As of the time of writing this article, the trading price of dogcoin is approximately US$0.0686.
