$DOGE
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Musk’s exit from the #Dogecoin agency and reduced public support have contributed to a bearish outlook for Dogecoin in June 2025, with significant price drops likely unless new positive developments emerge
The latest true and trending news about Elon Musk and Dogecoin as of early June 2025 is that Elon Musk has officially left his role as lead adviser of the Department of Government Efficiency (DOGE), a Trump administration agency named as a tongue-in-cheek reference to Dogecoin. Musk’s departure marks the end of his direct involvement with this government initiative, which had sparked a speculative rally in Dogecoin’s price following Trump’s election victory.
Since Musk’s exit, Dogecoin has seen a sharp decline, plummeting about 59% from its recent 52-week high and currently trading near $0.19. The token’s value remains highly sentiment-driven and closely tied to Musk’s public support, so his stepping away has removed a key bullish catalyst. Technical analysis shows Dogecoin breaking below important moving averages and support levels, with potential further downside risks to $0.10 or even $0.05 if bearish momentum continues.
Additionally, Dogecoin struggles with fundamental issues such as limited real-world use (only about 2,096 businesses accept it as payment worldwide) and an unlimited token supply, which makes long-term value appreciation difficult. Social media interest and trading volumes have also been declining sharply since April 2025, signaling waning demand.
