Elon Musk recently posted a meme referencing the Department of Government Efficiency (D.O.G.E.), which temporarily impacted Dogecoin’s price. The meme seemed unrelated to the cryptocurrency, yet an apparent correlation emerged between Musk’s activity on social media and Dogecoin’s price fluctuations.
Despite the brief price increase following Musk's post, Dogecoin’s value declined shortly afterward, sparking questions regarding the intentions behind Musk’s actions.
This event adds to the ongoing debate about how influential figures like Musk can affect cryptocurrency markets, specifically with Dogecoin, and whether such influences might constitute price manipulation.
