#ElonMuskDOGEDeparture Elon Musk has been associated with Dogecoin (DOGE) due to his frequent mentions and tweets about the cryptocurrency. Although he has not 'disengaged' officially, his level of involvement and influence in DOGE has varied over time. Here are some reasons that might explain why his connection with DOGE seems to have weakened.
- *Change of focus*: Musk has expressed interest in other areas, such as artificial intelligence and SpaceX, which may have reduced his focus on cryptocurrencies.
- *Lawsuit*: In 2022, Musk and Tesla were sued by a group of Dogecoin investors for alleged market manipulation and fraud. Although the case was dismissed in August 2023, this may have affected his enthusiasm for the cryptocurrency.
- *Public statements*: Musk has stated that he used to be interested in cryptocurrencies, but his attention has shifted to AI. He has also mentioned that none of his companies will launch a crypto asset.
- *Market influence*: Although Musk no longer mentions DOGE as frequently, his influence in the market remains significant. Musk's tweets and statements about DOGE in the past have caused major movements in the price of the cryptocurrency.
Despite this, the DOGE community remains active and the price of the cryptocurrency may continue to respond to Musk's actions and statements. Recently, the DOGE logo appeared on the website of the Government Efficiency Department (DOGE) led by Musk, which caused a surge in the price of the cryptocurrency.