Movement Labs’ MOVE token experiences significant rise following speculations of advisory role with Elon Musk’s D.O.G.E. The modular network allegedly engages with the organization, but no official confirmation has been made.

World Liberty Financial (WLFI), a DeFi project backed by Donald Trump, recently acquired approximately $2 million worth of MOVE tokens, implying a connection between the company and Trump’s administration.

Movement Labs Collaborates with D.O.G.E.

D.O.G.E., the Department of Government Efficiency led by Elon Musk, is delving into blockchain’s potential. Various crypto entities are aligning with the initiative, and talks of Movement Labs advising D.O.G.E. have surfaced today.

Co-founder Rushi Manche discreetly hinted at these talks following WLFI’s investment in MOVE earlier in the day.

“The strategic MOVE stockpile. We are proud to be the pioneers in altcoin, modern blockchain platform, and alternative virtual machine under the new administration. MOVE is Proudly Made in America,” Manche shared on X (previously Twitter).

While the particulars of this potential collaboration are not verified, Manche’s statement is adding weight to the rumors. World Liberty Financial (WLFI), Trump’s crypto venture, acquiring around $2 million in MOVE tokens, further suggests an association.

The exact contributions Movement Labs plans to make to D.O.G.E. are not yet clear. Nevertheless, the speculations around D.O.G.E. have led to a surge in Movement Labs’ MOVE token value.

Since its debut on Binance in December 2024, the token has amplified by almost 100%. Within a week after its introduction, it reached its highest price of $1.45 and a market capitalization of $2.7 billion, although experiencing subsequent adjustments.

Earlier this month, Movement Labs declared a funding of $100 million in Series B seed funding. Following the buzz surrounding these rumors, MOVE escalated by more than 15%.

Graphic displaying MOVE's 24-hour price movement. Source: BeInCrypto

In essence, it appears plausible that Movement Labs is aiding D.O.G.E. in its blockchain exploration for government spending reductions, as directed by Musk. However, the company has not formally acknowledged these rumors nor given any other indications apart from the recent WLFI investment.