In the fluctuating world of cryptocurrency, Dogecoin (DOGE) prices exhibited minimal changes recently, hovering between the 16 to 17 cents mark over the past 24 hours. This steadiness arrives in parallel with a broader flat market, even as rumors circulated about carmaker Tesla’s search for a new CEO to succeed Elon Musk, a well-known proponent of Dogecoin.
Reports surfaced indicating that Tesla’s board members had engaged with several executive search firms about the potential transition. This speculation was reportedly fueled by Musk’s notable involvement with the Trump administration, as mentioned by the Wall Street Journal. As a result, board members met with Musk to encourage him to publicly affirm his commitment to Tesla.
However, Tesla’s X account swiftly rebutted these claims early Thursday, stating, “This is absolutely false (and this was communicated to the media before the report was published). The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.” Musk himself characterized the report as a “deliberately false article” in a follow-up post.
This internal turbulence at Tesla has implications for Dogecoin, given Musk’s influence over its market price. His remarks or developments regarding his companies have historically swayed the prices of this popular memecoin.
Notably, Tesla has been accepting DOGE as a form of payment for merchandise since early 2022, marking a significant endorsement of the cryptocurrency. Users can conveniently connect their Dogecoin wallets with Tesla’s platform to facilitate direct transfers for purchases.
As the market awaits further developments, Dogecoin remains a focal point for many crypto enthusiasts, largely due to Musk’s continued involvement and the ongoing relationship between Tesla and cryptocurrency.
