Tech mogul Elon Musk has triggered Dogecoin community’s excitement with his recent X post
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The new department will be in charge of reducing the enormous US government spending over the past four years. The national US debt has grown by trillions at an incredibly fast pace, reaching $35.81 trillion as of October this year. Over the past four years, the debt has increased by $8.06 trillion.Musk has several times stated publicly that he prefers to call this organization D.O.G.E. for short, since this abbreviation is similar to the name of the largest meme cryptocurrency Dogecoin .
Markus believes that reducing government spending is likely to be painful. “Our economy is addicted to government money - the recent gdp growth has mostly been from unsustainable government spending,” he wrote in the tweet.
He reminded the community that in the past fifteen years the national debt has added 15 trillion US dollars. “Because it’s so entangled and the government bloated up so much recently, it’s not going to be flowers and rainbows,” Markus pointed out. He says that now the right person has been appointed to bring down the spending and slow down the debt growth, meaning Elon Musk.
This week, just within a single day – on Monday – Dogecoin soared by more than 52%, hitting $0.43409. By now, DOGE has pulled back by roughly 12.74% and is changing hands at $0.37578.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
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