Billionaire Elon Musk is well-known for his association with meme coin Dogecoin (DOGE). In 2019, he revealed that it was his favorite cryptocurrency.

亿万富翁埃隆·马斯克（Elon Musk）以与模因硬币狗币（Doge）的联系而闻名。在2019年，他透露这是他最喜欢的加密货币。

Over the years, multiple Musk tweets and actions led to powerful DOGE rallies, with the biggest one - that led to the $0.7316 all-time high (ATH) - coming near the day he was the host of Saturday Night Live (SNL).

多年来，多个麝香的推文和动作导致了强大的Doge集会，其中最大的推文 - 导致了$ 0.7316的历史最高水平（ATH） - 接近他是周六夜现场（SNL）的主持人。

Dogecoin might be my fav cryptocurrency. It’s pretty cool.

Dogecoin可能是我最喜欢的加密货币。很酷。

Dogecoin likewise reacted positively to Donald Trump's re-election as the cycle was closely linked with Elon Musk, given his endorsement of the Republican, and his role in the new administration.

狗狗币同样对唐纳德·特朗普（Donald Trump）的连任做出了积极的反应，因为周期与埃隆·马斯克（Elon Musk）紧密相关，因为他对共和党人的认可以及他在新政府中的作用。

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Between November 5 and December 19 - the final day before a major correction - DOGE rallied 174.12% from $0.17 to $0.47. Furthermore, the price action ensured that the number of Dogecoin millionaires soared by 40% by November 7.

在11月5日至12月19日（重大更正的最后一天）之间，Doge从0.17美元升至174.12％，至$ 0.47。此外，价格行动确保了Dogecoin百万富翁的数量在11月7日之前飙升了40％。

DOGE records massive losses in 2025

Doge记录2025年的巨大损失

The second Trump presidency has not been nearly as bullish for Dogecoin, as well as most cryptocurrencies and stocks, as his second election victory.

第二任特朗普总统在他的第二次选举胜利中，对狗狗币以及大多数加密货币和股票的看法都没有。

Since January 20 - inauguration day - DOGE has dropped 51.43% from $0.35 to $0.17. Numerous assets have experienced a similar phenomenon, leading to speculation that the U.S. may, in fact, already be in a recession.

自1月20日（就职日）以来，总督已从0.35美元下降到0.17美元。许多资产经历了类似的现象，导致猜测美国实际上已经处于衰退中。

While most of the turbulence has been linked to the fallout of Trump's tariff program and often inflammatory rhetoric, Dogecoin's violent reaction may be more closely related to Elon Musk.

尽管大部分动荡与特朗普关税计划的后果和炎症性言论有关，但Dogecoin的暴力反应可能与埃隆·马斯克（Elon Musk）紧密相关。

Is Musk to blame for Dogecoin’s collapse?

马斯克是狗狗崩溃的责备吗？

Specifically, with the Republican's re-entry into the White House, the South African-Canadian-American billionaire became the head of the Department of Government Efficiency - D.O.G.E or, plainly, DOGE, depending on the formatting.

具体而言，随着共和党的重新进入白宫，南非加拿大裔美国人的亿万富翁成为政府效率部的负责人 - 根据格式，总督或很明显的是多吉。

Though many Americans believe the Department's mission - reducing government expenditures to contain the ballooning national debt - is not only positive but necessary, execution has been more controversial.

尽管许多美国人认为该部门的任务 - 减少政府支出以遏制封闭的国家债务 - 不仅是积极的，而且是必要的，而且执行更具争议性。

D.O.G.E. has, so far, made multiple errors when firing federal employees, with the quick axing and rehiring of hundreds of nuclear engineers - critical for America's nuclear arsenal - becoming a stark example.

到目前为止，Doge在解雇联邦雇员时犯了多个错误，数百名核工程师的迅速削减和重新培养 - 对美国的核武库至关重要 - 成为一个鲜明的例子。

The Department's operations have also been marred by privacy and security concerns. At the same time, multiple outlets claim that it is heavily and continuously misrepresenting the savings it achieved by vastly inflating numbers.

该部门的运营也因隐私和安全问题而受到破坏。同时，多个媒体声称，它正在大量歪曲大量膨胀数字所获得的节省。

Though none of this activity is linked to Dogecoin, another asset closely linked with Musk - albeit more directly than the meme coin - has been suffering from blowback: Tesla (NASDAQ:TSLA).

尽管这项活动都没有与Dogecoin有关，但与Musk紧密相关的另一项资产（尽管比模因硬币更直接）一直遭受反击：Tesla（Nasdaq：TSLA）。

As a result of Musk's actions and statements, Tesla's cars have become targets of vandalism and boycotts, and TSLA shares have collapsed 41.52% since January 20 to their March 14 price of $249.42.

由于马斯克的行动和陈述，特斯拉的汽车已成为故意破坏和抵制的目标，自1月20日以来，TSLA股票已崩溃了41.52％，至3月14日的价格为249.42美元。

It is likely that a similar phenomenon has contributed to Dogecoin's price collapse.

类似的现象可能导致了多霉素的价格崩溃。