Custodia Bank CEO Caitlin Long shared her recommendations for the Department of Government Efficiency (DOGE) as Elon Musk proposes cutting at least $2 trillion from the US federal budget. Elon Musk appeared at the rally at Madison Square Garden in New York City, along with nearly two dozen speakers. The DOGE recommendation was made by Elon Musk and since it is the same as the Dogeocoin abbreviation, it also caused an increase in the DOGE price. Musk, Dogecoin 
$0.142292 He has made many statements about himself in the past and he also likes such subtle messages.
Quick Action Needed
Caitlin Long stated that DOGE should act quickly after Elon Musk’s statements on October 28. Musk expressed his goal of reducing government spending at Trump’s rally. Long emphasized the importance of DOGE monitoring regulations that challenge federal employees and businesses.
Long said the regulatory abuse was staggering and explained why the Department of Government Efficiency needed to act quickly. He also pointed out that the government mismeasured growing spending relative to GDP.
Long stated that GDP ignores B2B or supply chain expenditures and said that alternative methods should be used to measure the size of the economy. “There is opportunity there for the Department of Govt Efficiency: stop measuring the economy by GDP growth,” he said.
Increase in DOGE Price
The price of DOGE has increased by over 4% in the last 24 hours and is currently trading at $0.143. The 24-hour bottom and top prices were recorded as $0.136 and $0.145, respectively. Additionally, trading volume increased by 90% in the last 24 hours.
Long emphasized that Dogecoin risks economic recession when federal spending decreases. However, he noted that if capital and jobs are transferred to the private sector, B2B activities will increase and drive real growth.
Thanks to Musk’s developments and shares regarding DOGE, DOGE increased by 40% this month. The crypto community hopes for DOGE to reach $1 after Donald Trump’s victory.
As a result, DOGE’s swift action and Custodia Bank’s proposals could play an important role in restructuring government spending. Making economic measurements more comprehensive can contribute to understanding real growth dynamics.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
