Elon Musk Steps Back from DOGE Role, Tesla Stock Gains Amid Earnings Report
In a surprising announcement during Tesla’s earnings call, Elon Musk revealed he will significantly reduce his involvement with the Department of Government Efficiency (DOGE) next month. Despite stepping back, Musk assured stakeholders he would continue to support efforts to combat waste and fraud. The news coincided with Tesla’s stock rising nearly 5% in after-hours trading, even as the company reported a 20% drop in quarterly earnings. This development has sparked discussions about the future of DOGE and its broader implications for both cryptocurrency and Tesla’s market performance.
Elon Musk to Step Down from DOGE Role Next Month, Tesla Stock Rises
During Tesla’s earnings call, Elon Musk announced that his involvement with the Department of Government Efficiency, nicknamed DOGE, will significantly decrease next month. Despite this, he assured investors that he would still assist with Doge to prevent a resurgence of waste and fraud. The company’s stock surged nearly 5% in after-hours trading following the announcement. Notably, this came after Tesla reported a 20% drop in automotive revenue and a 71% collapse in net income for the first quarter. Among the cryptocurrencies mentioned, Dogecoin (DOGE) saw relevance due to Musk’s announcement.
Dogecoin Rallies 25% After Trump Media ETF Deal
Dogecoin (DOGE) has surged 25% in the 14-day charts following Trump Media’s ETF deal with Crypto.com. The deal aims to focus on US-based cryptocurrencies, potentially benefiting projects like DOGE. The global crypto market capitalization has also risen by 4.8% to $3.05 trillion, with Bitcoin (BTC) reclaiming the $94,000 mark. The swearing-in of pro-Bitcoin SEC head Paul Atkins has added to the market’s positive sentiment.
Dogecoin Shows Bullish Signs, Potential Breakout to $0.195
Dogecoin, the popular meme coin, has surged by over 8% in less than 24 hours. The coin is now trading NEAR the $0.17 mark and analysts predict a further increase to $0.195 in the short term. Technical charts indicate a bullish trend with the formation of an Ascending Triangle pattern. With the general crypto market turning bullish, Dogecoin could be poised for a significant rebound.
Dogecoin Price Rebound: Potential 333% Rally Toward $0.7
Dogecoin is on the verge of a rebound, strengthened by increased market participation and the rise in Bitcoin price. The ongoing bullish trend could mark the end of the downtrend that began in January 2025, potentially leading to new all-time highs. Crypto analyst Master Ananda notes a classic resistance-turned-support dynamic, suggesting that the current trading price could be the 2025 bottom for Dogecoin, hinting at a potential rally.
