DOGE drops 53.85% over the past year after early dissolution of federal agency

The Department of Government Efficiency (DOGE), which was established as a hallmark project by President Donald Trump to enhance federal efficiency and cut costs, has now been formally dissolved, bringing about an unceremonious conclusion to its operations eight months ahead of schedule. Although DOGE was originally slated to continue until July 2026, Scott Kupor, who leads the Office of Personnel Management (OPM), told Reuters that

is no longer functioning as a unified department. Its main responsibilities have largely been integrated into OPM, and previous DOGE employees have moved into other positions within the government.

Initially under the leadership of Elon Musk, DOGE drew widespread attention for its assertive cost-reduction strategies and ambitious pledges to eliminate unnecessary government expenditures. Musk famously wielded a chainsaw as a metaphor for his determination to “cut through red tape.” During its short tenure, DOGE reported that it had found and canceled contracts totaling more than $1.9 billion in potential value within just nine days, including agreements for IT and broadcasting services.

Nonetheless, these actions have been met with considerable criticism due to insufficient transparency in their financial reporting. While DOGE claimed to have saved billions, independent analysts and financial experts found it difficult to substantiate these claims because of the limited information made available to the public. This opacity has led to doubts about the department’s actual effectiveness.

Some former staff members have voiced apprehensions about the legal and ethical implications of DOGE’s forceful restructuring tactics, especially in relation to how contracts were ended and staff reductions were handled.

Although DOGE has been shut down, several of its policies—such as the federal hiring freeze—have already been discontinued, and there are currently no established goals for further workforce reductions. The Trump administration maintains its stance on minimizing waste and boosting efficiency, but the lack of a dedicated agency like DOGE indicates a move back to more conventional methods of federal oversight.

At the same time, the DOGE cryptocurrency token continues to be traded, though it has experienced a notable decline. On November 24, 2025, DOGE increased by 0.57% over a 24-hour period to reach $0.14535, but it has dropped 9.83% over the past week and 21.78% in the last month. Over the previous year, the token’s value has fallen by 53.85%.

Grayscale Investments has introduced spot ETFs for

and , with trading set to commence on NYSE Arca on the same day DOGE was dissolved. These moves highlight that investor interest in the token persists, even after the closure of the department associated with its name.

With DOGE’s premature closure, the long-term effects of its brief existence remain unclear. The administration is still seeking ways to improve government efficiency, and some former DOGE personnel have assumed significant roles in federal agencies such as the Department of Health and Human Services and the State Department. Although DOGE is no longer operational, its influence—and the debates it sparked about executive power in government reform—are likely to continue.