Dogecoin Remains Steady as Elon Musk Dismisses Tesla CEO Exit Rumors

Dogecoin showed minimal price movement following reports suggesting Tesla might be planning to replace Elon Musk as CEO — claims the company quickly denied.

In the past 24 hours, DOGE traded between 16 and 17 cents, mirroring the broader stability in the cryptocurrency market. Elon Musk, a vocal proponent of Dogecoin, has historically influenced the token’s value through his statements and business decisions.

According to a report by The Wall Street Journal, Tesla’s board had reached out to executive search firms over the past month, exploring potential successors to Musk. The move was reportedly prompted by concerns over Musk’s growing involvement with political matters, particularly his ties to the Trump administration. Board members reportedly asked Musk to commit publicly to dedicating more time to Tesla.

Tesla, however, firmly rejected the report. “This is absolutely false (and this was communicated to the media before the report was published),” the company posted on its official X account early Thursday. “The CEO of Tesla is Elon Musk, and the Board is highly confident in his ability to continue executing on the exciting growth plan ahead.”

Musk also responded personally, labeling the report a “deliberately false article.”

Tesla continues to accept Dogecoin for select merchandise purchases — the only cryptocurrency the company supports. Since early 2022, users have been able to connect their DOGE wallets directly to Tesla’s website and make payments to the automaker’s dedicated Dogecoin wallets. Despite the CEO speculation, Dogecoin’s price action remained calm, indicating investor confidence in Musk’s leadership and continued crypto engagement.

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