Elon Musk's recent statement clarified the connection between DOGE and Dogecoin, affirming no affiliation with the cryptocurrency.
Musk's Statement on DOGE
At a recent meeting, Musk elucidated that the acronym DOGE, pertaining to the Department of Federal Government Efficiency, is not affiliated with the cryptocurrency Dogecoin. This statement aimed at eliminating confusion caused by the acronym similarity.
Dogecoin Market Calmed
Following the clarification, Dogecoin market displayed no significant fluctuations. Musk reiterated the non-affiliation of DOGE with Dogecoin, avoiding speculative impact on the cryptocurrency's value.
Dogecoin's Position Post-Clarification
Currently, Dogecoin is priced at $0.17, with a market cap of $24.78 billion. Musk emphasized the statement's lack of financial or regulatory repercussions concerning Dogecoin.
Musk's clarification on DOGE and Dogecoin helps maintain market stability, alleviating unnecessary investor doubts and speculations.
