Rumors of DOGE's Death Have Been Greatly Exaggerated

The Department of Government Efficiency isn't going quietly into the night. After reports surfaced suggesting the agency had been disbanded, DOGE's official X account fired back on Monday, calling the news "fake" and promising a swift return.

According to the agency, it terminated 78 "wasteful" contracts just last week, delivering $335 million in savings to taxpayers. The post emphasized that "President Trump was given a mandate by the American people to modernize the federal government and reduce waste, fraud and abuse." DOGE added: "We'll be back in a few days with our regularly scheduled Friday update."

Cameron Winklevoss, co-founder of cryptocurrency exchange Gemini, celebrated the news with a simple "Long live DOGE."

The Confusion Over DOGE's Status

The clarification comes after Office of Personnel Management Director Scott Kupor stated that DOGE is no longer a "centralized entity," with the OPM taking over many of its functions. Interestingly, Kupor also reposted DOGE's comeback announcement, adding another layer of ambiguity to the situation.

DOGE launched in January with Elon Musk promising an ambitious $2 trillion in savings, a goal that initially had President Donald Trump's full backing. That relationship fractured in June when Musk split with Trump over the president's tax-and-spending bill.

The agency's website currently shows approximately $214 billion in claimed savings, with the last update posted on October 4 following the federal government shutdown. However, a Politico investigation raised questions about these figures, finding them inflated by counting maximum possible contract values instead of actual spending reductions.

Price Action: At the time of writing, Dogecoin (DOGE) was trading at $0.1508, up 2.22% in the last 24 hours.