On April 3rd, Elon Musk refuted rumors about his resignation from DOGE, labeling them as 'fake news'. This statement affected market perception and investor sentiment.
Musk's Resignation Denial
Elon Musk stated on social media platforms that claims of his resignation from DOGE are fake news. No official resignations were announced by Musk or DOGE-affiliated sources.
Market Reaction
Concerns diffused among investors and supporters, potentially restoring market confidence. Despite Musk's clarification, the spreading rumors had initially impacted DOGE's market sentiment.
Current DOGE Price
Dogecoin's price on CoinMarketCap is currently $0.17, with a market cap of $25.82 billion, maintaining a 0.93% market dominance. DOGE has experienced a 44.81% decrease over 60 days. Trading volume reached $1.33 billion, reflecting a 17% recent change.
Musk's denial of the rumors played a crucial role in market stabilization. While volatility in cryptocurrency markets may persist, Musk continues to significantly influence technological and governance developments.
