Short-term bearish, still bullish in the long run

In the current volatile cryptocurrency market, a significant piece of news has attracted widespread attention. On March 31, the price of Dogecoin (DOGE) saw a nearly 4% drop, and the reason behind it was related to an unexpected rumor debunking.
All along, Dogecoin has had numerous connections with Tesla CEO Elon Musk, who is referred to as the 'Father of Dogecoin' by many fans. However, recently, Musk has unusually drawn a clear line. At a town hall meeting in Green Bay, Wisconsin, hosted by his American political action committee, Musk explicitly stated that the Trump administration has no plans to use Dogecoin, while emphasizing that the government efficiency department (D.O.G.E) has no connection to meme coins (such as Dogecoin).