Dogecoin Tumbles Despite Elon Musk’s Latest DOGE Treasury Buzz—Here’s Why

Elon Musk’s rumored DOGE treasury move fails to lift the meme coin as markets shrug off hype.

Market Reality Check

Even for a crypto fueled by tweets and memes, Dogecoin’s latest slump hits hard. Whispers of Tesla or X integrating DOGE as a treasury asset swirled—yet prices dipped instead of ripping. Retail traders piled in, expecting the usual Musk boost. They got a lesson in volatility instead.

The Cynical Take

Another day, another 'game-changing' crypto rumor that moved exactly nothing. DOGE’s sensitivity to Musk’s tweets has worn thin—turns out, even billionaire endorsements can’t override bearish momentum. Maybe the market’s finally learning that hype isn’t a strategy… or maybe everyone’s just waiting for the next tweet.

Dogecoin price slumps despite positive rumors

Since its 2013 debut, Dogecoin’s price has often moved in step with Musk’s public comments. However, the market’s muted response to the proposed treasury vehicle—a project reportedly approved by the official Dogecoin organization, the House of Doge—suggests that traders may be prioritizing fundamentals over hype.

Details about the structure and launch timeline remain scarce, even as analysts see potential for a renewed rally.

Spiro’s Track Record Defending Musk in Crypto Cases

Alex has successfully defended Musk against allegations of market manipulation.

In August 2024, Spiro helped secure the dismissal of a 2022 lawsuit claiming Musk had manipulated Dogecoin markets through social media posts.

Spiro, who also represents celebrities such as Jay-Z and Alec Baldwin, successfully argued that Musk’s comments constituted protected speech rather than market manipulation.

Musk’s influence over Dogecoin pricing has been so pronounced that his social media activity has become a key factor in trading strategies.

His 2021 Saturday Night Live appearance, where he called Dogecoin “a hustle,” caused immediate price volatility.

Nevertheless, analyst Ali recently posted on X that “Dogecoin $DOGE is ready for a 30% move.” This suggests that technical momentum may be building despite current price weakness.

Dogecoin $DOGE is ready for a 30% move! pic.twitter.com/Zeqo7zL9mW

This prediction aligns with historical patterns where Doge often experiences sharp moves following periods of consolidation.

The treasury company’s plans could provide sustained buying pressure for Dogecoin if successfully launched.

At last check Saturday, Dogecoin is down nearly 9% over the previous seven days.