Elon Musk confirms ‘no plans' for Dogecoin leading to 6% drop underperforming market
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Elon Musk explicitly stated there are no plans to use Dogecoin for US government purposes, leading to a 6% price decline for the cryptocurrency. This drop is more significant compared to Bitcoin and Ethereum's more modest losses, indicating market sensitivity to Musk's statements.
March 31, 2025 | 11:30 am
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Cryptocurrency experiences significant price decline after Musk's clear statement about no government adoption plans
Musk's direct statement eliminates potential government use speculation, removing a potential price catalyst and causing immediate market sell-off
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100