According to Fox News, Elon Musk's biographer stated that the billionaire is 'frustrated' and has exited his position in Dogecoin (DOGE), which could influence short-term Dogecoin price action and overall meme coin sentiment. Traders should monitor DOGE volatility as Musk's involvement has historically affected price movements and trading volumes (Source: Fox News, 2025-05-30). This development may also impact other meme tokens and shift investor focus toward alternative cryptocurrencies.

According to Fox News (@FoxNews), Elon Musk announced that his tenure as head of DOGE is ending, emphasizing his government role was limited to 130 days and thanking Donald Trump for the opportunity to reduce excessive spending (Source: Fox News, May 29, 2025). This leadership change is expected to create volatility in Dogecoin trading, as Musk's influence has historically driven significant price swings and trading volumes. Traders should closely monitor DOGE price action, liquidity, and sentiment indicators, as shifts in leadership could impact both short-term momentum and long-term adoption within the crypto market.