Elon Musk reaffirms his support for Dogecoin at a recent X Space event, revealing that he personally owns DOGE.

Despite the bear market, Musk's enthusiasm for Doge persists, reflecting his confidence in the meme coin's potential.
Musk's influence on Doge's value appears to be diminishing, with recent revelations only slightly affecting its price.

At a recent X Space event, Elon Musk, the famous billionaire and CEO of Tesla and SpaceX, reaffirmed his unwavering support for Dogecoin.

Musk, known for his influential presence in the tech industry, revealed that he personally holds Dogecoin, while his space exploration company, SpaceX, remains invested in Bitcoin.

Elon Musk is bullish on Doge
The recent revelation aligns with Elon Musk's history of boosting Dogecoin's profile. In 2021, his backers have propelled the meme coin to unprecedented heights. Despite the bear market, Musk's affinity for Dogecoin remains unwavering, demonstrating his confidence in the cryptocurrency's potential.

While Tesla, another company led by Musk, also includes Bitcoin in its assets, Musk's personal choice leans towards Dogecoin.
Interestingly, the impact of Musk's statements on the value of Doge appears to be diminishing. Unlike the dramatic surges that followed his 2021 tweets, the recent revelations have only slightly pushed DOGE's price.

The 7.7% price increase Doge saw this week aligns with a general upward trend in the crypto market, spurred by approval by the U.S. Securities and Exchange Commission (SEC). spot Bitcoin ETFs.

Musk's comments at the X Space event also included a nod to Bitcoin's potential usefulness on the desire to integrate it into X's payment system.

His analogy of Bitcoin being “gold” and not ideal for transactions reflects his nuanced view of different cryptocurrencies.

DOGE Price awaits a major catalyst
Amid these developments, technical analysts have offered varied perspectives on the future of Dogecoin.

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