Elon’s Dogecoin Treasury Rumor Fails to Save Price – What’s Next? 😱

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Dogecoin slipped more than 2% to $0.21 in the last 24 hours, bucking the coin’s usual pattern of rallying on Elon Musk-related news. 🐕💸 (Spoiler: It’s not a “hustle,” it’s a “slump.”)

The drop comes as rumors swirl that Musk’s attorney, Alex Spiro, is spearheading a Dogecoin (DOGE) treasury project aimed at raising $200 million from public investors. 🧑‍⚖️💰 (Because nothing says “trust me” like a lawyer and a crypto project.)

According to Fortune, investors are receiving offers for a public vehicle that will invest in Dogecoin coins. 📰🔮 (Translation: “We’re not sure how this works, but let’s throw money at it.”)

  • Dogecoin slips 2% to $0.21 despite news of a $200m treasury initiative 🐕📉
  • Elon Musk’s lawyer Alex Spiro is set to chair the planned DOGE treasury 🧑‍⚖️🐶
  • House of Doge backs the venture as Dogecoin’s official corporate vehicle 🏛️🐕

Dogecoin price slumps despite positive rumors

“Musk’s tweets are protected speech, not a conspiracy.”)

Spiro, who also represents celebrities such as Jay-Z and Alec Baldwin, successfully argued that Musk’s comments constituted protected speech rather than market manipulation. 🎤🔥 (Because free speech is the ultimate crypto.)

Musk’s influence over Dogecoin pricing has been so pronounced that his social media activity has become a key factor in trading strategies. 📱📈 (Because nothing says “I’m a serious investor” like following a billionaire’s tweets.)

His 2021 Saturday Night Live appearance, where he called Dogecoin “a hustle,” caused immediate price volatility. 🐕💔 (Spoiler: It was a “hustle” all along.)

Nevertheless, analyst Ali recently posted on X that “Dogecoin $DOGE is ready for a 30% move.” This suggests that technical momentum may be building despite current price weakness. 📈✨ (Or it’s just another “buy the dip” meme.)

Dogecoin $DOGE is ready for a 30% move!

– Ali (@ali_charts) August 29, 2025

This prediction aligns with historical patterns where DOGE often experiences sharp moves following periods of consolidation. 🔄💥 (Because nothing says “stability” like a 30% surge.)

The treasury company’s plans could provide sustained buying pressure for Dogecoin if successfully launched. 🛠️💰 (Or it could be a dog in the moon. We’ll see.)

At last check Saturday, Dogecoin is down nearly 9% over the previous seven days. 🐕📉 (But hey, at least it’s not a meme anymore!)

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2025-08-30 17:19