DOGE News Today: Elon Musk Exit, Congress Cuts, and Price Surge to $1?

3 days ago 8

Dogecoin (DOGE) surges past $0.22 amid Elon Musk’s government exit and renewed political attention to DOGE-driven spending cuts. With rising momentum, is DOGE finally on track to hit $1 in June?

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DOGE News: Elon Musk Leaves Government as Congress Reviews DOGE Cuts

In a major development making waves across political and crypto circles, Elon Musk has officially ended his role as a Special Government Employee under the Trump administration. Musk had been heading the Department of Government Efficiency (DOGE), pushing forward aggressive proposals for cutting federal expenditures — especially targeting foreign aid, USAID, and public broadcasting.

Congress is now set to review and vote on a legislative package shaped by Musk’s initiatives, reigniting debates around fiscal reform and long-term government savings. The move has led to a surge of interest in Dogecoin, not only because of the department’s acronym (DOGE) but also due to Musk’s historical support for the meme coin.

Another bullish catalyst for $DOGE is the recent filing by 21Shares to launch the first-ever Dogecoin ETF. This move marks a major step toward institutional adoption and could open the door for mainstream investors to gain exposure to $Dogecoin via traditional financial markets. The ETF, if approved, would signal growing recognition of DOGE as more than just a meme, but a legitimate digital asset with lasting market relevance. The timing of this filing has coincided with the current price surge and reinforces the bullish momentum.

Dogecoin Price Surge: What’s Fueling the Momentum?

As of now, $Dogecoin is trading at $0.2257, up 1.17% in the last 24 hours, with a 24h high of $0.2278. Trading volume has climbed to $1.4 billion, reflecting a clear increase in market interest.

By TradingView - DOGEUSD_2025-05-29 (5D)

$DOGE is riding a fresh wave of optimism, largely fueled by:

Renewed retail investor engagement across crypto communities
Increased attention from the political sphere, especially with Trump-era crypto narratives regaining momentum
Memecoin revival trend, with $DOGE standing out again amidst a saturated market of newer meme coins
ETF filing from 21Shares, signaling a shift toward institutional credibility

DOGE Price Prediction: Can Dogecoin Hit $1 in June?

$DOGE is still 69.4% below its all-time high of $0.7376 (May 8, 2021), but the current momentum could shift that trend. If buying pressure continues and $DOGE manages to break resistance levels around $0.25 and $0.30, a surge toward $1 by June 2025 remains within reach.

It’s worth noting that $Dogecoin’s uncapped supply (∞) presents inflationary challenges over the long term. However, its growing integration with major platforms, potential use in microtransactions, and longstanding cultural relevance keep the bullish case alive.

By TradingView - DOGEUSD_2025-05-29 (YTD)

Conclusion: DOGE Eyes the $1 Mark Amid Political Spotlight

With Elon Musk stepping away from his DOGE-led government post, $Dogecoin making headlines in political circles, and institutional players like 21Shares joining the game, momentum is building fast. As the market responds to both fundamental and narrative-driven factors, $DOGE could be gearing up for another historic move — and possibly a run toward the $1 milestone in June.

$DOGE, $Dogecoin

Article By

Rudy Fares

Equity Trader, Financial Consultant, Musician and Blockchain Aficionado. I spend my time doing Technical and Fundamental Analyses for Stocks, Currencies, Commodities and Cryptocurrencies.