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Elon Musk’s Department of Government Efficiency (DOGE) advisory panel faces a lawsuit just after Donald Trump’s inauguration as president. The case, alleging violations of federal transparency laws, has drawn significant attention from the crypto community.
DOGE Lawsuit: Fallout After Trump’s Swearing-In
Reports indicate that Musk’s DOGE advisory panel is under scrutiny for allegedly violating the Federal Advisory Committee Act of 1972. The law mandates transparency in hiring, disclosure, and other practices for committees with federal advisory roles. A watchdog group, National Security Counselors, claims the DOGE panel qualifies as such and has failed to adhere to these regulations.
This legal action emerged within minutes of Trump’s inauguration, raising speculation about its impact on Trump’s policy plans. Critics have labeled the lawsuit “lawfare,” with Mario Nawfal, co-founder of IBC Group, stating it aims to hinder Trump’s agenda to reduce government inefficiency.
Dogecoin Market Reaction and Price Outlook
The lawsuit has triggered heightened market caution, with Dogecoin’s price slipping 1% to $0.3716. Over the past 24 hours, DOGE has fluctuated between $0.3472 and $0.3984, reflecting the market’s sensitivity to Musk-related developments.
This legal challenge could delay a potential Dogecoin rally anticipated in 2025, reminiscent of Ripple’s prolonged battle with the SEC. Despite eventual triumph under a crypto-friendly Trump administration, DOGE’s sentiment now hinges on the lawsuit’s outcome.
Market participants are closely monitoring the situation as Elon Musk’s DOGE faces one of its most significant tests. Whether the lawsuit dampens investor optimism or ignites a renewed wave of support will be crucial for Dogecoin’s trajectory in the months ahead.
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