š Elon Musk Steps Down from DOGE
Elon Musk has officially concluded his role as the head of the Department of Government Efficiency (DOGE), a position he held as a "Special Government Employee" under President Donald Trump. His departure was announced on X (formerly Twitter), where he expressed gratitude to President Trump for the opportunity to reduce wasteful spending, stating, "The DOGE mission will only strengthen over time as it becomes a way of life throughout the government"
Musk's exit follows criticism of the "One Big, Beautiful Bill," a significant tax reform legislation that he argued would increase the federal deficit and undermine DOGE's cost-cutting efforts
š Dogecoin Price Reaction
Following Musk's announcement, Dogecoin experienced notable price movements:
Immediate Impact: DOGE's price surged by 8.2% to $0.165 within two hours of the news, reflecting Musk's significant influence on the cryptocurrency market .
Current Price: As of the latest data, DOGE is trading at approximately $0.2255, with an intraday high of $0.2274 and a low of $0.2177 .
This volatility underscores the market's sensitivity to Musk's involvement with Dogecoin. \
š§ Market Sentiment and Outlook
Analysts suggest that while Musk's departure may introduce short-term uncertainty, DOGE's long-term trajectory will depend on broader adoption and utility beyond Musk's influence. Key support levels to watch include $0.2230, with potential resistance around $0.230. A sustained move above $0.25 could signal renewed bullish momentum
