Dogecoin price stalls at $0.40 amid crypto rally as France President files complaints against Elon Musk

Dogecoin's price consolidates below $0.40 on Tuesday, following Emmanuel Macron's accusations against Elon Musk.

The French President accused Musk of using his X platform to influence upcoming German elections.

Musk’s historical influence on DOGE has made traders cautious, as his public statements often drive significant price volatility.The chart above shows how the DOGE price has consolidated within the $0.35 - $0.40 narrow channel over the last three days, signaling hesitation among traders.

Due toMusk’s historical influence, this news event is expected to trigger knee-jerk reactions among DOGE traders in the coming sessions.

DOGE traders deposit $1.2B in anticipation of a volatile market reaction

While Macron’s allegations against Musk have drawn media attention, speculative traders are making strategic moves to profit from the expected market volatility.

Markets data shows that DOGE traders opened an unusual volume of fresh positions within 24 hours of the news.

Confirming this narrative, Coinglass’ Open Interest chart above tracks daily changes in total active futures contracts positions listed for a specific crypto asset#Doge🚀🚀🚀 $DOGE #AIMarketCapDip #BNBBhutanReserves #BullCyclePrediction #USJobOpeningsSurge