DOGE’s Influence on Tesla’s Share Price and Musk’s Political Pressures

A look at how Elon Musk’s involvement with Dogecoin and political pressures are impacting Tesla’s share price.

Tesla’s Shares Down 34% YTD; Musk Links Decline to Doge and Political Pressures

Tesla’s shares have declined by 34% year-to-date amidst widespread protests and vandalism. On Sunday, Musk mentioned during a town hall event in Wisconsin that he believes his involvement with Dogecoin is affecting Tesla’s share price. He also stated that opponents of his efforts to reduce government jobs under the Trump administration have been pressuring him by targeting Tesla. Musk noted that his Tesla stock and the stock of everyone who holds Tesla has roughly halved. The share price was already down 35.83% for the year before Monday.

Dogecoin Completes Most Bearish Q1 In 7 Years With 46% Losses

Dogecoin is set to complete its most bearish first quarter of the year in seven years with a quarterly loss of around 46%. This has raised the possibility of the foremost meme coin witnessing a repeat of the 2018 price action, when it recorded its worst Q1 loss ever. Cryptorank data shows that this is also the first time DOGE has recorded a Q1 loss in three years. market participants had begun the year with high hopes for Dogecoin, anticipating the peak of its bull run, but that hasn’t happened.

Dogecoin Holders Seek Alternative Investments Amid Crash Predictions

Analysts have warned Dogecoin crypto fans to prepare for an unpredictable journey ahead, predicting a meme coin crash in April. Many Dogecoin holders are now looking for alternative investments, with Remittix, a Defi platform, drawing investor attention due to its promise of stability and aggressive growth opportunities. The constant market activity and uncertain path of Dogecoin raises questions about switching paths.