Elon Musk just poured cold water on the idea that the U.S. government might use Dogecoin.

At a town hall in Wisconsin on Sunday, the tech billionaire said there are “no plans for the government to use Dogecoin for anything as far as I know,” ending speculation that the Trump administration's Department of Government Efficiency (DOGE) might adopt the meme coin.

Elon Musk has poured cold water on the idea that the U.S. government might be using Dogecoin.

At a town hall in Wisconsin on Sunday, the tech billionaire said there are “no plans for the government to use Dogecoin for anything as far as I know.”

That didn’t stop fans from hoping.

Earlier this year, the Department of Government Efficiency (DOGE) briefly displayed Dogecoin’s famous Shiba Inu mascot on its website, leading many to wonder if the Trump administration was adopting the meme coin.

The confusion wasn’t entirely misplaced — the government agency does share its acronym, DOGE, with Dogecoin, fueling speculation that the two were connected. After all, Musk has floated other ideas, like putting the U.S. Treasury’s transactions on a blockchain.

But this time, he clarified: “The names are similar, but they’re doing two very different things.”

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The Department of Government Efficiency (DOGE) is an advisory committee established by President Donald Trump on January 20, 2025, via executive order. Its primary mission is to modernize federal technology and software to maximize governmental efficiency and productivity.

DOGE focuses on three main areas: rescinding outdated regulations, reducing administrative overhead, and achieving cost savings within the federal government. By streamlining operations and cutting unnecessary expenditures, DOGE aims to reduce the size of government and the federal workforce.

In line with its mandate to enhance efficiency, DOGE has implemented significant workforce reductions across various federal agencies. Notably, the Social Security Administration (SSA) announced plans to reduce its staff by approximately 12%, from 57,000 to 50,000 employees. Similarly, the Department of Veterans Affairs and the Department of Health and Human Services have experienced substantial layoffs

The connection between Musk and Dogecoin goes way back. He once called himself the "Dogefather" during a 2021 appearance on Saturday Night Live, and even joked about becoming the coin's CEO.

Dogecoin itself started as a joke in 2013, created by engineers Billy Markus and Jackson Palmer to poke fun at the crypto hype. Originally intended as satire, Dogecoin went on to develop a loyal following.

Then again, perhaps it was fitting that the meme coin was used in jest. It seems that even Elon Musk's crypto favorite isn't likely to be entering the mainstream anytime soon.

Dogecoin (DOGE) is currently trading at approximately $0.1662, reflecting a 1.7% decrease over the past 24 hours, according to Kraken's data.

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