Tesla CEO Elon Musk highlighted the importance of the Department of Government Efficiency during Donald Trump's presidential inauguration, emphasizing its mission to cut federal spending and eliminate regulations. Musk’s speech referenced Trump’s election victory and promised a secure future, while stating, "We’re going to take DOGE to Mars." The agency faced lawsuits and Ramaswamy's expected resignation, raising questions about its stability. Dogecoin, which often reacts to DOGE developments, dropped over 3% in value with a 22% plunge in trading volume following the news.
