The price of Dogcoin took a sharp contraction this week after a sudden update from Elon Musk, which left a lot of Dogecoin. The billionaire, known for its unexpected influence on digital assets, especially Doug, explained recently the discrimination between the Ministry of Governmental efficiency (DOGE) and the Mimi currency, which seemed to undermine continuous enthusiasm among investors. It is not surprising, the effects were immediate. The price of Dogecoin went on a brief decrease, which led to questions about whether the price of Doug Losses can be extended to less than $ 0.17.
Musk is making rumors about the government’s participation in Dukwin
the The update came through Munica PAC municipal hall hosted in Green Pay, Wisconsin. In response to the increasing speculation about the Ministry of Governmental efficiency and its potential relationships with Dog, Musk explained that although the same shortcut to the MEME COIN notes, the agency is completely relevant. According to him, the administration focuses on improving the efficiency of the US federal government by at least 15 %. Dogecoin or any other encrypted currency will not integrate into the foreseeable future.
His comments effectively Close ongoing rumors The administration may enhance the adoption of Dogecoin through an official benefit. Speculation was intensified in February when the official Doga Dog Ingoin’s official website, which represents Dogecoin. This intense excitement was born within the Meme Coin community, and thus caused a brief price to rise.
Dogecoin was steadily growing as a preferred encryption choice between retailers. If there was any connection between the M and Duij currency, it may have opened cases Pay above its height at all From $ 0.73. Another refused to clarify Musk this possibility effectively, with his statements that explain that any similarities between the currency and the agency are purely rumors.
Market morale is still disturbed
It was the Dogecoin slide In the past few days. At the time of writing this report, the MG currency is traded at $ 0.168, a 15.7 % decrease over the past seven days, as merchants’ reaction was strongly to the advertisement. Discussions on social media, especially on X, show that many investors were hoping to have a merger between the currency and the government initiative.
However, the broader musk feelings towards Dogoin are still supportive. Although this recent clarification disappointed those who expect the governmental role of the original, it does not necessarily represent the end of his interest in it. In the past, he referred to this as “encrypted people’s coin”. However, without cases of new use or positive momentum in the broader encryption market, the Doug price risk the sliding further. To test the low support areas About $ 0.15 price level.
Distinctive image from Unsplash, Chart from TradingView.com
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