Is there a rumor that Musk will "abandon the dog"?

Dogecoin is trending again, this time it’s rumored that Musk might "break up" with it. There are reports that he is preparing to step down from his positions related to Dogecoin, and the market exploded in response. After all, Musk is considered the "living signboard" for Dogecoin, and if he really lets go, the price is likely to take a rollercoaster ride.

Now everyone is on edge, and Dogecoin is experiencing significant short-term volatility. Although the price is still rising, it feels more like a final celebration, as the foundation is actually quite weak. Speaking of negative factors, aside from Musk possibly stepping back, the decline in meme coin popularity is also a big problem.

However, the technical analysts remain steady; Dogecoin currently shows signs of a descending wedge breakout in its technical chart, which is a signal for a reversal upward. In other words, despite the negative news, the technical aspect might be holding a big opportunity.

In summary, Dogecoin will definitely be turbulent in the short term, but whether Musk steps back is not the most critical issue. The real test is whether Dogecoin can carve out a new path based on its own value without the presence of the big figure that is Musk.

In this tug-of-war between true and false negative news, retail investors should stay calm, listen less to rumors, and observe trends more.

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