Elon Musk Leaving DOGE To Impact Dogecoin Price; Here’s Why

Aliyu Pokima
April 3, 2025 Updated June 12, 2025
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How Will Elon Musk Leaving DOGE Impact Dogecoin Price?

Highlights

  • Signals from Washington suggest that Elon Musk may be leaving DOGE.
  • His departure from the Department will have an effect on Dogecoin price.
  • Dogecoin is still holding onto gains from April 1 but things could get ugly for the meme coin.

Elon Musk’s potential departure from the Department of Government Efficiency (DOGE) has sparked speculations of unintended consequences on the Dogecoin price. Following the White House chatter, rumors are circulating that the Tesla CEO is leaving the department, poised to impact Dogecoin, a token often linked to Musk.

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Is Elon Musk Leaving DOGE?

A Politico report suggests that the curtain could be falling on Elon Musk’s time at DOGE after nearly four months. Musk has been leading operations at the department since its formation, stifling fraud and reducing government inefficiency.

However, the report notes that the Tesla CEO will be leaving the agency to focus on his business empire. Per the report, Musk’s departure is linked to growing criticisms over his handling of DOGE operations since taking over the reins.

Elon Musk’s supporters argue that a transition is in order with the blueprint for DOGE already established. Furthermore, whispers of a departure are coinciding with the end of a 130-day exemption for Musk to operate as a special government employee, allowing him to sidestep a maze of conflict of interest rules.

Despite, clear signals for his Elon Musk’s departure, President Trump vows to keep the billionaire at DOGE for as long as possible. While Musk will not call the shots at DOGE in the future, pundits say Trump will offer Musk with an advisory role.

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Will Elon Musk’s Exit Affect Dogecoin Price?

The exit of Elon Musk from DOGE will have far-reaching effects on Dogecoin’s price. His appointment to DOGE triggered a rally for the memecoin and pundits theorize that his exit may trigger negative sentiments.

Musk’s influence on the memecoin is far-reaching and previous actions have triggered price swings. After Musk teased a Ghibli-themed DOGE, Dogecoin price showed glimpses of a strong rally.

His comments that there are no DOGE adoption plans by the US sent dampened enthusiasm for a potential rally. At the moment, Dogecoin is trading at $0.1742, holding onto its April 1 gains. However, weekly charts indicate a 12% draw down that may worsen if Elon Musk leaves DOGE.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he's not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.