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bitcoin
Bitcoin (BTC) $ 96,562.87
ethereum
Ethereum (ETH) $ 2,716.58
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 711.04
usd-coin
USDC (USDC) $ 1.00
xrp
XRP (XRP) $ 2.46
binance-usd
BUSD (BUSD) $ 0.994692
dogecoin
Dogecoin (DOGE) $ 0.261199
cardano
Cardano (ADA) $ 0.778162
solana
Solana (SOL) $ 195.13
matic-network
Polygon (MATIC) $ 0.322256
polkadot
Polkadot (DOT) $ 5.15
tron
TRON (TRX) $ 0.24035

Dogecoin rises over 5% after Elon Musk threatens DOGE haters with federal action

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Elon Musk’s submit on regulation enforcement taking actions in opposition to Reddit customers focusing on DOGE workers sparked a 5% rise in his favourite coin.

On Feb. 4, Head of Division of Authorities Effectivity Elon Musk responded to a submit from a preferred Reddit account, Reddit Lies, exposing a number of nameless Reddit customers for threatening workers of the Musk-led division with violence. Loads of the posts name for the execution of mentioned workers and hints at focusing on them by discovering out the place they dwell.

Musk shared the submit along with his followers with the caption “They [Reddit users] have damaged the regulation” by threatening workers linked to the brand new division.

Not lengthy after, Musk shared a follow-up submit which included a press release from the U.S. Lawyer District of Columbia, Edward R. Martin Jr. Within the submit, Martin Jr. acknowledged that his crew has executed an preliminary evaluate of the proof showcasing people and teams explicitly focusing on DOGE workers.

Don’t mess with @DOGE pic.twitter.com/wgdJBxNzyG

— Elon Musk (@elonmusk) February 4, 2025

You may also like: Sequentia co-founder crashed 69% of DOGE nodes by exploiting deadly flaw

“We’re in touch with FBI and different regulation enforcement companions to proceed quickly. We even have our prosecutors getting ready,” mentioned Martin Jr. in a public assertion, accompanied by Musk saying “Don’t mess with DOGE.”

The thrill surrounding DOGE on-line has evidently boosted its token-namesake, Dogecoin (DOGE). In line with information from crypto.information, DOGE has gone up greater than 5% up to now 24 hours. The Shiba Inu coin is at present buying and selling palms at $0.27.

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Nevertheless, buying and selling exercise for DOGE has gone down. Prior to now 24 hours, Dogecoin’s buying and selling quantity has gone down by greater than 43% to $6 billion. Dogecoin’s market cap stands at $40 billion and its circulating provide is at 147 billion tokens.

Dogecoin rises over 5% after Elon Musk threatens DOGE haters with federal action - 1

Worth chart for Dogecoin on February 4, 2025 | Supply: crypto.information

In November 2024, Donald Trump introduced a brand new initiative geared toward streamlining federal operations, naming this system the Division of Authorities Effectivity. The acronym “DOGE” is a nod to Dogecoin’s ticker, which additionally occurs to be Elon Musk’s favourite cryptocurrency.

Elon Musk was chosen to guide DOGE alongside politician Vivek Ramaswamy. Nevertheless, Ramaswamy had declared he could be stepping down from the position on Jan. 21.

Learn extra: Washington goes DOGE as Elon Musk pushes for a leaner authorities

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