Dogecoin price remained steady despite rumors of Elon Musk’s alleged exit from Tesla. The Dogecoin price, often known to swing with Musk-related news, showed surprising resilience in the past 24 hours, trading steadily between $0.16 and $0.17.
This time, the Doge price appears unfazed, even as a Wall Street Journal report stirred controversy by suggesting Tesla’s board was looking to replace Musk as CEO due to his ties with the Trump campaign and time spent away from Tesla operations. However, the electric carmaker swiftly denied the claims.
Tesla Shuts Down CEO Replacement Rumors
On Thursday morning, Tesla’s official X account posted:
“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 blasted the report, calling it a “deliberately false article.” The crypto market has long associated Musk’s actions and statements with Doge price movements, especially due to his frequent public support of the memecoin.
Despite the potentially disruptive headlines, the Doge price stayed stable. According to CoinMarketCap, DOGE showed less than 0.5% volatility throughout the day, signaling market confidence.
Crypto market analyst Michael van de Poppe commented,
“Dogecoin holding steady in the face of Tesla-Musk drama is a bullish sign. Traders are showing maturity, and that could mean DOGE is entering a new phase. That sentiment was echoed by blockchain researcher Yves Longchamp of SEBA Bank, who told Bloomberg,
“This kind of resilience, especially for meme-based assets like DOGE, could indicate broader investor confidence beyond just social sentiment.”
Positive Signals Supporting Dogecoin Price
Here are the five key reasons the Dogecoin price is staying strong—and may even be gearing up for more upside.
Regardless of swirling rumors, Musk’s influence on DOGE remains intact. He has never distanced himself from Dogecoin, and Tesla continues to accept DOGE for merchandise payments on its site. This ongoing utility supports the Dogecoin price and adoption.
In fact, DOGE is the only crypto currently accepted by Tesla for purchases—a fact Musk frequently reaffirms in his posts and interviews.
Data from IntoTheBlock shows a 9% increase in active DOGE wallets over the past week, despite market uncertainty. This uptick in activity suggests users are transacting or holding DOGE more confidently, contributing to the Dogecoin price remaining strong.
The broader meme coin market has outperformed in recent weeks, with FLOKI and PEPE also posting double-digit gains. As the original meme coin, DOGE often leads sector movements. Its relative price stability hints at potential strength during the next leg up.
CryptoQuant’s latest report notes:
“Dogecoin price decoupling from Musk-centric narratives may position it as a more mature meme asset.”
DOGE still dominates retail attention. On platforms like Reddit and TikTok, hashtags like #dogecoinarmy and #dogetothemoon remain highly active. According to LunarCrush, Dogecoin’s social engagement increased by 18% week-over-week.
Investor and YouTuber Matt Wallace said:
“The Dogecoin price staying firm even when Musk isn’t directly involved is a sign that DOGE is evolving beyond hype—it’s community-powered now.”
Technically, the Dogecoin price has been forming a bullish pennant pattern. If it breaks above the $0.175 resistance level, analysts expect a surge toward $0.20.
Veteran chartist Peter Brandt posted:
“Dogecoin price chart looks strong. As long as it holds above 50-day moving average, I’m bullish.” With minimal sell pressure and rising accumulation, DOGE’s setup looks favorable—especially in comparison to more volatile altcoins.
Even with the Dogecoin price showing signs of independence, Elon Musk’s role remains pivotal. His influence on Dogecoin’s trajectory can’t be denied, given Tesla’s integration of DOGE payments and SpaceX’s previous DOGE-funded missions.
In fact, Dogecoin’s upcoming “Doge-1” lunar mission, fully funded by DOGE and managed by Musk’s SpaceX, is still scheduled for late 2025, a milestone that could again boost the Dogecoin price narrative.
Dogecoin Price Defies Gravity Amid Controversy
Dogecoin price is proving its staying power once again. Despite swirling rumors about Elon Musk’s future at Tesla, DOGE has remained rock solid—defying the volatile nature it’s known for.
As retail sentiment remains strong, wallet activity picks up, and technical charts flash bullish signals, the Dogecoin price appears to be entering a new era—one driven as much by fundamentals and community as by celebrity.
Whether Musk stays or goes, one thing is clear: the Dogecoin price is no longer just a meme, it’s a movement. Get the latest on The bit gazette
