The price of Dogecoin slowly slowed down this week after the surprising update of Elon Musk, which caused a significant part of the Dogecoin community depressed. The billionaire, known for his unpredictable impact on digital assets, especially the dog, recently explained the distinction between the Department of Government Efficiency (DOGE) and the meme coin, which seemed to cut in a lasting enthusiasm among investors. No wonder the consequences were immediate. The price of Dogecoin has increased briefly, which leads to questions or dog price It can extend losses below USD 0.17.
Entertainment musk rumors about government involvement in Dogecoin
. The update came in progress The town hall run by Musk’s America Pac in Green Bay, Wisconsin. Responding to the growing speculation about the performance of the government department and its potential connections with the dog, Musk explained that, despite sharing the same acronym as the Ticker Memem, the agency is completely unrelated. According to him, the department focuses on improving the efficiency of the US Federal Government by at least 15%. There will be no integrating dogcoin or any other cryptocurrency with his actions in the foreseeable future.
His comments effectively Close the ongoing rumors that the Department can augment Dogecoin adoption through official utility. Speculation intensified in February, when the official website of the Doge agency showed the renowned Shiba Inu dog, which represents Dogecoin. This generated intense emotions in the coin community and in turn caused the price to augment briefly.
Dogecoin is constantly growing as the preferred cryptographic choice among retail investors. If there was any relationship between a meme coin and a dog, he could open real apply for the token Push your high time 0.73 USD. Musk’s last explanation effectively rejected this possibility, and his comments explain that all similarities between the coin and the agency are purely rumors.
Market moods are still sour
Dogecoin’s slide was Acute in the last few days. At the time of writing, the MONETA MEME MEME is trading USD 0.168, which is a 15.7% decrease in the last seven days, and traders strongly react to the advertisement. Discussions about social media, especially on X, show that many investors were counting on a combination of coin and government initiative.
Nevertheless, Musk’s broader sentiment towards Dogecoin still seems to be supported. Although this recent explanation disappointed those who expect a government role of assets, this does not necessarily mean the end of his interest. In the past, he called this “cryptocurrency of people.” However, without fresh cases of apply or a positive shoot in a wider cryptocurrency market, the price of Doge risks further To test lower support zones Approximately 0.15 USD price.
A distinguished picture from Unsplash, tradingview.com chart
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