Could Elon Musk's D.O.G.E. affect Dogecoin market prices?

[Abiky]

People seem to be "boycotting" Elon Musk's Tesla as retaliation from federal government layouts. As a result, Tesla's stock went considerably down in price. I now wonder if the same will happen to Dogecoin? After all, Elon Musk's Department of Government Efficiency has the same acronym as the beloved "meme" coin (which is DOGE). Investors might believe the real D.O.G.E. has some sort of link to DOGE (Dogecoin), leading them to "dump" their coins on the market without remorse. Prices will decline as a result.

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

[TastyChillySauce00]

I think there will be no impact.

ever since elon created D.O.G.E the market somewhat smart enough to decouple its price and its relation to D.O.G.E as elon is just using its name and nothing more.
that's why dogecoin also has been stagnating for quite sometime unimpacted. if any, current dump I think is because meme coin just having it bad, most of meme coin literally lose 90% of its value and doge just 30%.

it's unlike tesla where elon got big chunk of share there, never really heard elon disclosing his dogecoin possession as well.

[Marvell1]

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

Doge is just a coin that Elon loves but he has never stated how much he holds and we have no evidence that he is the actual owner of this memecoin. Meanwhile, the purpose of the Tesla boycott is to create negative impacts on Elon for what he did when he fired thousands of government employees. So Doge being boycotted is also possible but the possibility is very low because it will not cause too much negative impact on Elon.

Also, who will dump Doge? Holders Doge? I don't think they are stupid enough to dump their bags and they are the ones who suffer the loss, not anyone else.

[o48o]

People seem to be "boycotting" Elon Musk's Tesla as retaliation from federal government layouts. As a result, Tesla's stock went considerably down in price. I now wonder if the same will happen to Dogecoin? After all, Elon Musk's Department of Government Efficiency has the same acronym as the beloved "meme" coin (which is DOGE). Investors might believe the real D.O.G.E. has some sort of link to DOGE (Dogecoin), leading them to "dump" their coins on the market without remorse. Prices will decline as a result.

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

People who were buying EVs before Elon went full crazy mode, and who are now dumping them on the markets aren't same people who were buying DOGE. EV buyers were the same ones who probably were avoiding all pow coins tbh.

Doge-coin investors (those that matter to liquidity at least) know what they were investing to, and were probably cheering every time Elon mentioned doge (the crypto), and believed that when Elon made the D.O.G.E, that it would bring awareness to Doge, the crypto.

If they will dumping doge now, it's not because they are confused about the connection. It's because they want nothing to do with anything that Elon touches anymore. And elon was all over with doge marketing.

[Hispo]

People seem to be "boycotting" Elon Musk's Tesla as retaliation from federal government layouts. As a result, Tesla's stock went considerably down in price. I now wonder if the same will happen to Dogecoin? After all, Elon Musk's Department of Government Efficiency has the same acronym as the beloved "meme" coin (which is DOGE). Investors might believe the real D.O.G.E. has some sort of link to DOGE (Dogecoin), leading them to "dump" their coins on the market without remorse. Prices will decline as a result.

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

I think it is possible for some holders who do not like Elon Musk to dump their doge coins as a personal way to protest against him, he has declared Doge is his favorite cryptocurrency, after all, and there are genuinely many people who do not want anything to do with Elon Musk, it is not only about Tesla and the decrease in the value of their stock, it is a boycott on anything possible.
That being said, Elon does not have any direct link with the development and the advance of dogecoin as a Memecoin and I trust most of dogecoin investors will be able to see the difference between the asset and the people who only talk about the asset.

He does not have as much influence as he used to have over Bitcoin and Dogecoin, so I would advice Doge investors to take a look at other factors which could affect the price.

[Ever-young]

It was the first time when the department was newly formed and the name started trending that some sort of linking of the name to Dogecoin was being done some even speculate that the meme coin might have some usage in the department which might increase its demand but we didn’t see such, I still don’t think any of his action will directly affect Dogecoin unless their are other hidden plays which will be going on underground that we don’t know about.

[nelson4lov]

~Snipped

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

It can and it will but only if Elon Musk's D.O.G.E does something that has a lasting impact or does something worthy of praise US citizens. Traders have speculated on dogecoin price in the past based on just random tweets from elon musk—how much more when there is now an official office in the US government with the same ticker?

I believe all good things that D.O.G.E does, the hype will cascade onto the dogecoin token and its price will inevitably go up. I'm not a dogecoin fanboy so this is largely just speculation.

[Taskford]

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

Maybe there's certain factor that can affect Doge but I think in good way since by constant mentioning the name of that coin it will give somehow some great exposure to people especially to those new dudes in the market that doesn't know the existence of Dogecoin.

But overall those situation is short term effect only and there's really no big changes that will happen to it. Since Elon hyping up with this coin is done and majority of people already know what usually going to happen with it. That's why we see certain slow movement of Doge compare before since there's no huge demands coming up to this coin. As for negative impact I don't think it will have since he is not the creator of this coin so usually people would just ignore those factor and focus on the reputation gain by this coin itself.

[JeromeTash]

Nah, there will be no effect at all

Remember the old days when Elon Musk would just make a simple tweet about Dogecoin and the price would just go crazy? Well, that kind of manipulation ended in the previous bull run. In the recent bull run, even the creation of the DOGE department did nothing to move the doge markets so why would Elon's woes lead to it's downfall

Dogecoin price will just drop due to other factors and not particularly because a certain group hate Elon Must so much.

[Abiky]

I think there will be no impact.

ever since elon created D.O.G.E the market somewhat smart enough to decouple its price and its relation to D.O.G.E as elon is just using its name and nothing more.
that's why dogecoin also has been stagnating for quite sometime unimpacted. if any, current dump I think is because meme coin just having it bad, most of meme coin literally lose 90% of its value and doge just 30%.

it's unlike tesla where elon got big chunk of share there, never really heard elon disclosing his dogecoin possession as well.

Actually, Dogecoin lost a large portion of its value. But I don't think it has anything to do with boycotting Elon. Rather, it's a side effect of a decaying crypto market (bearish) due to the trade wars. Despite Elon Musk's efforts to "pump" Dogecoin market prices, things have remained the same. I guess investors are already tired of Elon Musk's market manipulation.

I'm yet to see if no-coiners are going to link the Department of Government Efficiency (D.O.G.E) with the real Dogecoin. If they do, it will look bad for the "meme" coin's image/reputation. No newcomer would want to buy DOGE. They will think it's tied to Elon Musk in some shape or form. At least we know crypto will get past Elon. So long as Dogecoin remains decentralized, nothing else matters.

[Renampun]

People seem to be "boycotting" Elon Musk's Tesla as retaliation from federal government layouts. As a result, Tesla's stock went considerably down in price. I now wonder if the same will happen to Dogecoin? After all, Elon Musk's Department of Government Efficiency has the same acronym as the beloved "meme" coin (which is DOGE). Investors might believe the real D.O.G.E. has some sort of link to DOGE (Dogecoin), leading them to "dump" their coins on the market without remorse. Prices will decline as a result.

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

I myself have known dogecoin for a long time and indeed at the beginning Elon Musk's influence on dogecoin was very large, even dogecoin once touched its ATH thanks to Elon Musk, it's just that now I no longer see Dogecoin being affected by Elon Musk's price. The D.O.G.E project which is currently being run by Elon Musk does have pros and cons for US citizens, but if it continues to be connected to Dogecoin, then it's just speculation, I'm 100% sure that if D.O.G.E has problems, those damn speculators will take advantage of the moment to make the price of Dogecoin fall and buy back again at the lowest price.

[Akbarkoe]

People seem to be "boycotting" Elon Musk's Tesla as retaliation from federal government layouts. As a result, Tesla's stock went considerably down in price. I now wonder if the same will happen to Dogecoin? After all, Elon Musk's Department of Government Efficiency has the same acronym as the beloved "meme" coin (which is DOGE). Investors might believe the real D.O.G.E. has some sort of link to DOGE (Dogecoin), leading them to "dump" their coins on the market without remorse. Prices will decline as a result.

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

We can't guess Elon Musk's abstract thoughts, we don't know what he will do in the future with that department, what he did did panic some TESLA shareholders but I think it's in line with other stock prices that are not owned by Elon Musk, because the real cause was JP Morgan's suspicion of a 40% recession that made the public panic.

On the other hand, talking about meme coins, more or less has an influence because there is hope for what Elon Musk will do with Dogecoin in the future so speculation is definitely there but if you look at Dogecoin, it is only slightly affected.

[Gozie51]

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

Your input would be greatly appreciated. Thanks.

No impact over dogecoin. What is happening with Elon musk on his Tesla company as a result of the decision to cut down federal jobs as it relates to D.O.G.E does not have any business with dogecoin. Elon musk owns Tesla and not dogecoin, investors know this quite well. Moreover, the reason I'm of this opinion of no impact is that when D.O.G.E. was announced and Elon musk to head it, it didn't cause any volatile upward buy on dogecoin, dogecoin remained down just as bitcoin. So why will it pull dogecoin down now because the people are not happy with D.O.G.E's decision. As have proven, the moving force in cryptocurrency market is bitcoin and just now the price of Bitcoin has started coming up just like dogecoin and others.

Except, Elon musk comes out to make negative statement about dogecoin and even at that I'm not sure it will have an immediate negative impact on dogecoin because the people will see it as a direct manipulation because of what he is going through with Tesla.

[doubletheprof]

Not only it could but it definitelly will

[avikz]

Do you think Elon Musk's actions in D.O.G.E. could have a negative impact over Dogecoin's market price? Or is it irrelevant?

It is irrelevant! However, the mass emotion works in a very different way. That's why every company is serious about reputation. So it is possible for the DOGE cryptocurrency price to be affected by the unrelated anger against D.O.G.E.

But at the same time, the memory of the mass is feeble. So it should not do any parmanent damage to DOGE crypto. Whatever the impact is, should be temporary.

[NotATether]

No.

Dogecoin will not be affected because the protesters are too stupid to know what a dogecoin is or what the letters form.

[Abiky]

No impact over dogecoin. What is happening with Elon musk on his Tesla company as a result of the decision to cut down federal jobs as it relates to D.O.G.E does not have any business with dogecoin. Elon musk owns Tesla and not dogecoin, investors know this quite well. Moreover, the reason I'm of this opinion of no impact is that when D.O.G.E. was announced and Elon musk to head it, it didn't cause any volatile upward buy on dogecoin, dogecoin remained down just as bitcoin. So why will it pull dogecoin down now because the people are not happy with D.O.G.E's decision. As have proven, the moving force in cryptocurrency market is bitcoin and just now the price of Bitcoin has started coming up just like dogecoin and others.

Except, Elon musk comes out to make negative statement about dogecoin and even at that I'm not sure it will have an immediate negative impact on dogecoin because the people will see it as a direct manipulation because of what he is going through with Tesla.

Let's just hope that Elon Musk doesn't get involved in the development of the Dogecoin project (through donations). That would be a huge conflict of interest. Knowing how Elon himself likes clean energy projects, he'll probably push Dogecoin to become a PoS cryptocurrency in the future.

With Elon Musk's involvement in the development side of the "meme" coin, people will directly tie the tech entrepreneur with the project. Fortunately, that's not the case as he only holds some coins in his wallet. Just like any ordinary investor. Perhaps, Dogecoin will be safe from whatever happens with the D.O.G.E. (Department of Government Efficiency). Only time will tell...

[Gozie51]

Fortunately, that's not the case as he only holds some coins in his wallet. Just like any ordinary investor. Perhaps, Dogecoin will be safe from whatever happens with the D.O.G.E. (Department of Government Efficiency). Only time will tell...

That's the point. Elon musk is an investor who is pushing the dogecoin market and I don't think he has been making statement about dogecoin lately, perhaps he has been busy with Trump job. If he comes out to make statement on dogecoin especially negative, that would be seen as blackmail. I'm sure he is finding way to resolve the challenges in his head with D.O.G.E and look for means to get Tesla shares back.

[FinneysTrueVision]

The association with Elon Musk is probably not helpful, but I’m not sure you can blame him for its recent decline. It was doing really well prior to Trump getting inaugurated and then there was a big crash because of high profile rug pulls and tariffs, which impacted altcoins a lot harder than Bitcoin.

Musk going on Joe Rogan’s podcast and basically saying that investing in memecoins is stupid might have caused potential investors to reconsider, but we will have to wait more than 2 months to see the long term effects when compared to the overall market. If Dogecoin is one of the worst performers, then we can definitively say that anti-Musk sentiment was the reason.

[CroverNo01]

That's the point. Elon musk is an investor who is pushing the dogecoin market and I don't think he has been making statement about dogecoin lately, perhaps he has been busy with Trump job. If he comes out to make statement on dogecoin especially negative, that would be seen as blackmail. I'm sure he is finding way to resolve the challenges in his head with D.O.G.E and look for means to get Tesla shares back.

Elon Musk and others can control the market with their positions if they open the trades. Tesla shares are important for Elon Musk because thats one of his gigantic investments. He's also incharge with Doge but that would have been an abandoned project but he's not reluctant, he might be discreetly doing some bidding on this project since he's the CEO.

Elon Musk is a top whale in the crypto space and there's no way he's panic with the whole unsettling up and down movements of the market. He was more focused in carry out important roles in Donald Trump presidential campaign and today, he's smiling because his target have been meet.