Caitlin Long, CEO of Custodia Bank, shared her recommendations for the Department of Government Efficiency (D.O.G.E) while Elon Musk suggested reducing the U.S. federal budget by at least $2 trillion. Musk participated in an event at Madison Square Garden with about two dozen speakers, where he made his DOGE recommendations, which coincidentally raised the price of Dogecoin 
$0.094956 due to the association with the acronym. Musk has previously made numerous statements about Dogecoin, relishing such indirect messages.
Immediate Action Required
Following Musk’s statements on October 28, Long emphasized the need for DOGE to act promptly. Musk expressed the government’s aim to reduce spending during Trump’s rally. Long highlighted the importance of monitoring regulations that put pressure on federal employees and businesses.
Long stated that regulatory abuse is surprising and explained why the Department of Government Efficiency needs to act quickly. She also pointed out that the government miscalculates expenditures relative to GDP.
DOGE Price Increase
The price of DOGE has risen over 4% in the last 24 hours, currently trading at $0.143. The recorded low and high prices in the past 24 hours were $0.136 and $0.145, respectively. Furthermore, trading volume increased by 90% during this period.
Long warned of the risk of economic recession if federal spending is reduced. However, she noted that if capital and activities shift to the private sector, B2B operations could increase and facilitate real growth.
Thanks to Musk’s developments and shares related to DOGE, the cryptocurrency has seen a 40% increase this month. The crypto community hopes DOGE will reach $1 following Donald Trump’s victory.
In conclusion, the urgency for D.O.G.E to act and Custodia Bank’s proposals could play a significant role in restructuring government expenditures. Making economic measurements more comprehensive could contribute to understanding the dynamics of real growth.
