Dogecoin News: Musk Officially Resigns

Elon Musk officially left his key position in the Trump administration’s “Department of Government Efficiency (DOGE)” on June 2, 2025. The price of DOGE slightly increased by 2.33% to $0.195 within 24 hours, with trading volume surging by 35% to $1.8 billion. This change highlights the market’s sensitivity to personnel changes associated with the project, significantly increasing the risk of short-term volatility.

Official Reserve Fund Program: Solving Payment Delay Issues

In order to reverse the speculative label, the Dogecoin Foundation has launched the “Official Reserve Fund” strategy in collaboration with the commercial entity House of Doge, injecting 10 million DOGE (approximately 1.86 million USD) in the first phase, aiming to promote the landing of payment scenarios through technological innovation. The core of this plan is to build a “pre-settlement channel” to solve the problem of transaction confirmation delays on the blockchain:

1. Instant payment: Merchants complete verification at the moment consumers scan to pay, replacing the traditional waiting time of over 10 minutes for block confirmations, with the goal of covering high-frequency scenarios such as municipal payments (parking fees, utility bills) and sports events (MLB baseball, F1 racing).
2. Government Cooperation Progress: Timothy Stebbing, a director of the foundation, revealed that intentions have been reached with multiple city governments in the United States, and public service payments may become the first round of landing scenarios.

Application scenario expansion: from “emojis” to payment tools

The pace of the practical transformation of DOGE is accelerating, with recent developments including:

1. Brand Collaboration: The foundation hinted in February 2025 that it is negotiating payment collaborations with global food brands, sports leagues, and government agencies. Although the specific list has not been disclosed, market confidence has driven the price up by 5.39% in a single day;
2. ETF institutionalization process: Institutions like Bitwise and Grayscale have submitted DOGE ETF applications, and Bloomberg analysts predict a 75% chance of approval by the end of 2025. If approved, traditional capital influx will reshape the liquidity landscape.
3. Technical Indicator Fix: As of June 3, the DOGE Relative Strength Index (RSI) has fallen to 38 (4-hour chart), entering the oversold zone, with the short-term support level at $0.12 and the resistance level at $0.14 being key in the long-short battle.

Musk’s “Double-Sided Signal”: Crisis or Opportunity?

Despite the sell-off triggered by the resignation, Musk stated on June 1: “This is not the end of DOGE, but the real beginning,” and emphasized that his led Office of Efficiency had cut $175 billion in federal waste spending. This statement was interpreted by the market as a long-term signal of technological empowerment, with some investors linking it to the vision of upgrading DOGE’s payment efficiency.

Market Outlook: The Payment Ecosystem May Become a Value Anchor

Currently, DOGE faces two major path divergences:

• Optimistic scenario: If municipal services, commercial payments, and other scenarios are implemented as scheduled, along with the approval of the ETF, the market capitalization may hit 50 billion USD (currently about 27 billion USD);
• Risk warning: Prices are still highly dependent on celebrity effects and policy associations. If the Q2 collaboration list does not meet expectations, the support level of $0.15 may face a test.

Technological upgrades and scene demands are quietly tearing off the meme coin label. When DOGE scans to pay for New York parking fees in 3 seconds becomes a reality, the “joke era” of cryptocurrency truly ends.