Will Elon Musk's Resignation Impact Dogecoin's Momentum?

The cryptocurrency world knows Elon Musk as one of its standout personalities who utilized Dogecoin backing to generate significant market effects.

Elon Musk's leadership at D.O.G.E. and endorsement of Dogecoin have resulted in major price changes for the meme coin. Market analysts wonder whether the Dogecoin price will significantly decrease if Elon Musk leaves his current position. This piece examines how Elon Musk's potential exit would affect the cryptocurrency coin and evaluates bullish indicators showing that Dogecoin might endure such shifts.

Will Elon Musk’s Resignation Impact Dogecoin’s Momentum?

The cryptocurrency world knows Elon Musk as one of its standout personalities who utilized Dogecoin backing to generate significant market effects. Dogecoin receives support from Elon Musk through his executive positions at Tesla and Spacex as he provides public comments about Dogecoin, which affect its market valuation.

Widespread recognition of Dogecoin occurred because of its supporters, particularly Elon Musk, which led to its transformation into a “meme coin” with practical use in the real world.

The recent evaluation of Musk’s leadership position at D.O.G.E. has triggered increased speculation concerning the Dogecoin price trajectory. Market analysts predict that Dogecoin’s value will plunge heavily if Musk leaves because his branding currently drives most of the currency's market value. Over time, the market has seen Dogecoin appreciate dramatically when Musk speaks about it, yet investors remain concerned about its survival ability without his ongoing support.

Elon Musk hasn’t admitted he’s on the way out, but the heat’s dying down. Insiders say he’s ready to leave the Trump admin and the real pressure isn’t from the left. It’s inside the White House.

Dogecoin’s reliance on Elon Musk is less significant than public perception suggests. Recently, it has gained strong support from its growing community of backers. Data shows that Dogecoin possesses technical characteristics that indicate its ability to survive separately from supporting factors.

Dogecoin Price Spikes 10% – Can DOGE Bulls Reclaim the $0.26 Mark Soon?The technical analysis of Dogecoin reveals fundamental indicators that indicate advancement in its value direction. The recent market results indicate Dogecoin maintains a position above $0.16 while achieving a 10% surge in the past day. The DOGE bulls have flipped the 50-day MA at $0.16 into support, as they eye the $0.26 resistance zone. The positive Bull Bear Power histogram confirms that Dogecoin demands notice for its upcoming robust price surge, even though Elon Musk remains front and centre.

Image 1- Dogecoin price chart, provided by Emmaculate, published on TradingView, April 23, 2025

Meanwhile, the technical indicators like the Relative Strength Index uphold a bullish picture as it sits above the 50-mean level at 59. Increased buying appetite at this level will see the meme coin surge toward the 200-day MA, invalidating the bearish prospect. Notably, the MACD momentum indicator has flipped above the orange line, calling for traders to rally behind the Dogecoin price.

In the meantime, if the bulls keep dominating, the Dogecoin price will flip the $0.26 into support, calling for further upside. On the other hand, if the resistance key coinciding with the 200-day MA $0.26 proves too strong, DOGE could drop or consolidate. In such a case, the $0.16 will be in line to absorb potential selling pressure.

The success of Dogecoin after Elon Musk does not depend exclusively on his engagement. Even if Elon Musk supports Dogecoin’s success, he is unnecessary because the cryptocurrency maintains strong indicator patterns while sustaining above key price points, supporting its growth trajectory.

Conclusion: Is Dogecoin Price Future at Risk Without Musk?Dogecoin can sustain its growth without Elon Musk’s direct support. This is because the technical statistics and increased investor interest show that Dogecoin maintains its ability to succeed independently. Dogecoin shows signs of continued growth because the market moves upward, and more people join its community.

Musk’s departure could trigger temporary price changes, but Dogecoin maintains favorable prospects for lasting success. Dogecoin stands to achieve substantial growth as it interacts effectively with institutional and retail buyers regardless of Elon Musk's involvement.