Elon Musk Dogecoin Joke Fails To Ignite DOGE Price Even As Donald Trump Considers Tesla Titan For Public Office

In an Aug. 20 post on X, Musk mentioned he’s “prepared to serve,” together with an image of him standing at a podium with the phrases “D.O.G.E. – Division of Authorities Effectivity.”

Following the put up, the worth of Dogecoin registered a slight 24-hour loss to commerce at $0.1046 as of two:50 a.m. EST, maybe signaling Musk’s waning affect on the worth of the most important meme coin by market capitalization.

Trump Prepared To Supply Elon Musk A Cupboard Place

Musk’s put up got here in response to Trump saying that he would provide the Tesla and SpaceX founder a Cupboard place or an advisory function if he will get elected, and assuming Musk was .

In an interview with Reuters, the Republican nominee mentioned that he would method Musk for such a place “if he would do it.”

“I’ve mentioned with Donald Trump the thought of a authorities effectivity fee and I’d be prepared to be a part of that fee.”

How will the forms react?

“You’re attacking the Matrix at that time, the Matrix will combat again” – @elonmuskpic.twitter.com/ys7cbgvNoh

— Robby Starbuck (@robbystarbuck) August 3, 2024

Musk appears up for the place, and shared that he has mentioned the thought of a “authorities effectivity fee” with Trump, including that he “could be prepared to be a part of that fee.”

Dwindling Affect On DOGE

Previously, Dogecoin-related posts by Musk have had a optimistic short-term impact on the meme coin’s value.

That is primarily because of buyers seeing any point out of DOGE on Musk’s profile as an endorsement of the crypto. 

Over time, nevertheless, the impact that Musk’s statements have on the Dogecoin value has weakened.

The current D.O.G.E. put up corroborates this, regardless of a really short-term bump to the DOGE value.

The meme coin titan is now buying and selling within the purple on the day by day, weekly, and month-to-month time frames after the put up was revealed on X. DOGE is down greater than 20% up to now month.

Whereas Musk’s affect on DOGE weakens, some analysts are recommending the Dogecoin-derivative P2E meme coin PlayDoge (PLAY) as its ICO enters its closing stage.

This blockbuster presale has raised greater than $6.1 million, and the mission is now providing buyers a final likelihood to purchase with simply 5 days left.

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