Why even Elon can’t boost DOGE’s growth?

Musk’s silence on Dogecoin (DOGE) and market dynamics have limited its growth in recent times. As he distanced himself from the promotion of DOGE, market sentiment has become more cautious.

Market manipulation and transparency issues

Lucie, a top marketing executive, exposed the opaque operations of centralized exchanges on the X platform, highlighting the issue of market manipulation. In the current environment where investor confidence is fragile, this opacity further exacerbates concerns about DOGE.

DOGE’s market performance

At press time, DOGE is trading at $0.1005, down 0.8% in the past 24 hours. Although Musk used to boost the value of DOGE through tweets, things have changed recently due to legal issues and his cautious approach to promotion. He warned the public not to trust any crypto project that uses his name.

Holder status

Despite the volatility faced by DOGE, data shows that about 70.99% of holders are still in profit, indicating a bullish trend in the near future. Overall, the market may need to find momentum again, and Musk’s absence is an important factor.

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