How Does Elon Musk Leaving D.O.G.E. Affect the Price of DOGE?

The participation of American billionaire Elon Musk in Dogecoin (DOGE) and the broader cryptocurrency space always draws attention. In particular, his leadership role at the Department of Government Efficiency (D.O.G.E) since President Donald Trump took office is no exception. However, recent reports suggest that Elon Musk may withdraw from his position as Senior Advisor to the President at D.O.G.E. This development has led many to discuss the potential impact on the price of DOGE in the coming weeks. In addition, another recent piece of information is also worth considering. In a talk in Wisconsin, Musk mentioned that there is no possibility that DOGE will be integrated or used in any official transactions of the Government. Transfer D.O.G.E: Elon Musk and CRO Kalshi According to POLITICO, Elon Musk's time in Washington appears to be coming to an end. President Trump has informed some insiders that the Tesla CEO will step back from his role as an operating partner at D.O.G.E. Musk is expected to leave at the end of May or the beginning of June when his special government employee term ends. According to reports, there is no division between the President and Musk. However, this decision comes at a time when the tech billionaire is increasingly becoming a political risk factor. Although the possibility of Musk continuing in an unofficial advisory role cannot be ruled out, his presence in official matters may decrease. In the latest post on X, American journalist Eleanor Terrett also revealed that Eliezer Mishory, the regulatory management director (CRO) and general counsel at Kalshi, is reportedly leaving the company to join Musk at D.O.G.E. Having worked at the IRS and CFTC, Mishory has expertise in regulatory management and can shape the policy of D.O.G.E. However, it is still unclear how these changes will affect news about Dogecoin in the future. Some analysts believe that Musk shifting his focus to business projects may mean a reduction in the public promotion of Dogecoin, a factor that has previously had a strong impact on the value of this memecoin. His past posts and support have led to strong price increases. Limiting involvement in political issues may allow him to focus more on his companies, including Tesla, X, and SpaceX. Will Elon Musk leaving D.O.G.E affect Dogecoin? It should be noted that Musk's connection with Dogecoin is one of the strongest relationships among other major cryptocurrencies. That is why investors are particularly interested in Musk leaving the U.S. Government Efficiency Department and other public roles. For example, some experts believe that Musk's departure from D.O.G.E may mean that Dogecoin will be mentioned less in official discussions related to the government. Although Elon Musk's influence on the popularity and volatility of the memecoin market is undeniable, it is important to note that this influence primarily stems from public enthusiasm rather than policy decisions. The long-term value of Dogecoin still depends on broader market trends, development efforts, and widespread acceptance, rather than individual actions of Musk. Some KOLs in the crypto community believe that Musk's continued mention of Dogecoin on social media platforms could significantly affect the price of this coin. News about Dogecoin and the price prospects of DOGE Market data shows that Dogecoin has decreased by 15% over the past week, although the crypto market as a whole has seen some recovery movements. The relative strength index (RSI) of this coin is currently at 41, indicating neutral momentum. However, the MACD indicator suggests a downward trend. In addition, the previous price forecast for DOGE shows important resistance levels at $0.18 and $0.21 that are being drawn attention. On the bullish side, DOGE needs to reclaim the level of 0.2 dollars to have an upward outlook, but the long-term resistance at 0.25 dollars remains very strong. Dogecoin is currently struggling to break out and is trading at $0.16, down 1.5% in the last 24 hours.