Dogecoin (DOGE) Suffers Drop Following Musk’s Government Announcement

Dogecoin (DOGE) experienced a significant price drop following Elon Musk’s statements about the US government’s potential lack of interest in adopting it. During a recent town hall meeting, Musk clarified that the DOGE cabinet name was derived from internet suggestions, revealing its origins as an online initiative rather than a direct governmental tie-in. This clarification led to a noticeable dip in DOGE prices today, with market indicators reflecting a decline of over 3% in the past 24 hours.