Author: 636Marx

Elon Musk's influence spans various industries, from being the founder of PayPal, to electric vehicles, to Mars enthusiasts, to being a major player in DOGE coin, and even a close ally of Trump. Now, he has added a new title------Secretary of the Department of Government Efficiency (D.O.G.E. Department). This department aims to streamline government processes, and whether by coincidence or design, the abbreviation for the Department of Government Efficiency shares the same name as DOGE coin (DOGE coin). Of course, Musk does not shy away from promoting the D.O.G.E. Department alongside DOGE coin. As DOGE coin steps back into the spotlight with the D.O.G.E. Department, an obvious question arises: can DOGE coin experience a significant surge under this halo? If it does rise, what is the key price to watch?

The author explores the controversies surrounding DOGE coin, the potential role of Musk's D.O.G.E. Department, and the possibilities of driving DOGE coin towards key price levels.

Call for SEC Investigation

Stuart Alderoty, Chief Legal Officer of Ripple, recently urged Musk's D.O.G.E. Department to review the SEC's spending behavior. His call stems from the growing disappointment within the digital currency industry regarding the regulatory agency's attitude towards digital assets over the years. Alderoty specifically named SEC Chairman Gary Gensler, accusing the SEC of wasting taxpayer money on enforcement actions that are questionable in their effectiveness.

The History of SEC and Cryptocurrency Controversies

The contentious relationship between the SEC and the crypto market began under former Chairman Clayton and has intensified under Gensler's leadership. Ripple, in particular, has been at the center of this tension, embroiled in a lengthy legal battle over whether its XRP token should be classified as a security, with industry leaders generally believing that the SEC's enforcement actions are overly arbitrary and aggressive.

In a post on X (Twitter), Alderoty compared the SEC's regulatory approach to "burning down the house to kill the mice." He also questioned whether Gensler's spending aligns with the public interest, calling for a detailed audit by the D.O.G.E. Department.

What is the D.O.G.E. Department? Why is it Important?

Musk has positioned the Department of Government Efficiency as a cornerstone of his governance philosophy. Based on the principle of minimizing waste, the D.O.G.E. Department aims to streamline federal operations. The department's agenda includes:

Simplifying Tax Law: Highlighting the exponential growth in tax law complexity—from 1.5 million words in 1955 to over 16 million today—the D.O.G.E. Department advocates for reforms to ease the burden on taxpayers.

Increasing Transparency: Musk emphasizes the need for greater accountability in government spending to meet public demands for fiscal responsibility. If the D.O.G.E. Department turns its attention to the SEC, it could signify a new era of regulatory oversight—scrutinizing not only private actors but also the regulatory agencies themselves.

The Rapid Rise of DOGE Coin

As the D.O.G.E. Department makes headlines in governance, its acronym counterpart, DOGE coin, has been making waves in the financial markets, evolving into a significant player in the digital currency space, driven by Musk's frequent endorsements.

DOGE coin has seen a resurgence in 2024, partly due to optimism surrounding Musk's leadership and a broader bullish trend in the crypto market. The author believes that DOGE coin has completed key technical corrections, laying the groundwork for upward momentum. A significant rebound for DOGE coin is anticipated. Currently, many believe that DOGE coin is more than just a speculative asset.

Can DOGE Coin Reach $1 by Year-End?

The D.O.G.E. Department could save Americans billions of hours in time loss, or will DOGE coin bring several times the gains to Americans?

With the public opinion tool (X) in his hands, Musk is embarking on a dual-risk venture with high odds of success------the D.O.G.E. Department and DOGE coin, akin to guessing the two sides of a coin: both have winning potential.

The author recalls the words of Wei Xiaobao: "To rebel against the Qing is because they took our money and women. Whether to restore the Ming or not, it’s none of your business? Alright, we are all smart people!"