Future of Dogecoin now that Elon Musk steps down

[Starmix]

No single entity owns Dogecoin, so the stepping down of Musk does not affect Dogecoin. Dogecoin, unlike some other cryptocurrencies, doesn’t have a single founder or controlling entity holding a significant portion of the total supply. Its decentralized nature means that ownership is distributed among numerous individuals and entities who hold Dogecoin in their digital wallets. While some individuals or groups may hold lager amounts than others there is no central authority controlling the cryptocurrency.

The value of cryptocurrencies is highly volatile and influenced by many factors, including market sentiment, regulatory changes, technological developments, and the actions of influential individuals like Elon Musk. While Musk’s involvement has historically correlated with price swings in Dogecoin, predicting future price movements based on a single event like his steeping down from a leadership role is speculative and unreliable . Any investment decisions should be made after thorough research and consideration of your own risk tolerance

 

[magnus2022]

Elon Musk's departure will surely influence the price of Dogecoin. Elon Musk is the most influential player in history of Dogecoin. Without Elon Musk, Dogecoin is simply a memecoin without significant influence or value.

 

[King Belieal]

But the truth is that even when he was actively in ybe white house, Doge still failed to reach the one dollar mark. Doge is finished with or without Elon Musk.

 

[eLdavis]

I doubt this would make any difference though. Anyways at the end of the day only time would be able to tell.

 

[Starmix]

You're all absolutely right with or without Elon Musk Dogecoin will go on unless no more chance for it's development. Let's just wait and see.

 

[Suba]

Dogecoin was created by Billy Markus in 2013, Dogecoin is considered a shitcoin so it is not suitable for long-term investment except trading. Personally, Elon Musk's resignation from the Doge community makes me happier because I think Musk has been playing market manipulation with pump and dump which has harmed many retail Doge investors.

 

[riberet19]

I think it will be the same, it's been a long time since Elon Musk has been actively helping Dogecoin from my point of view, and when he boosted it, he wasn't in government, so nothing has changed.