Dogecoin Prices Hold Steady Despite Tesla CEO Rumors, Musk Denies Report
Dogecoin (DOGE) saw little movement in price after a report surfaced claiming that Tesla was searching for a new CEO to replace Elon Musk—a claim later denied by the company.
In the past 24 hours, DOGE fluctuated between 16 and 17 cents, reflecting a largely stable market. Musk, a known supporter of Dogecoin, often influences its price through his actions and statements related to his companies.
The speculation about Musk’s potential departure arose from reports suggesting that Tesla’s board had approached executive search firms about finding a new CEO. According to the Wall Street Journal, the board’s concern was sparked by Musk’s significant involvement with the Trump administration. Tesla’s board then reportedly asked Musk to publicly affirm that he would dedicate more time to Tesla.
However, Tesla quickly refuted the claims. “This is absolutely false (and this was communicated to the media before the report was published),” the company’s X account stated on Thursday. “The CEO of Tesla is Elon Musk and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”
Musk also took to X to call the report a “deliberately false article.”
Since 2022, Tesla has accepted Dogecoin for merchandise payments, allowing users to connect their DOGE wallets directly to Tesla’s platform and make purchases using the memecoin.
