Recently, rumors circulated that Elon Musk stepped down from his role in the Trump administration. However, Musk swiftly debunked these rumors, confirming that he remains in his position.
Crypto Market Reacts to the Fake News
Musk's impact on the crypto market is undeniable. Even false reports about his decisions create volatility. Following the misinformation, Dogecoin and other Musk-associated cryptocurrencies experienced temporary fluctuations, but as the truth emerged, markets stabilized. This incident underscores how quickly misinformation can spread and influence crypto sentiment.
Dogecoin Price Prediction: Is Elon's Work Affecting DOGE?
Dogecoin has been on a downward trend, but that's due to the overall bearish sentiment in the crypto market. Since mid-March, Dogecoin stabilized around the price of $0.15 and $0.17. Technically, the crossing of fast and slow MAs indicates a temporary pause in Dogecoin's price decline and a potential upside.
What’s Next for Musk and Crypto?
As Musk continues his role in the administration, his actions could have significant implications, not just politically but also for the tech and financial sectors, including cryptocurrencies. The crypto community closely watches his moves.
One thing is clear: Musk is here to stay, and his impact on both politics and digital assets is far from over.
