Dogecoin Prices Steady Amid Tesla CEO Rumors

Dogecoin (DOGE) prices remained relatively stable following reports that Tesla was seeking a new CEO to replace Elon Musk. These reports were later refuted by the company, which clarified that Musk remains the CEO and that the board is confident in his leadership.

Over the past 24 hours, DOGE prices fluctuated between 16 and 17 cents, reflecting a generally flat market. Musk, a well-known supporter of Dogecoin, has a significant influence on the memecoin's price movements through his comments and developments at his companies.

According to reports, Tesla board members had reached out to several executive search firms about a month ago to find a replacement for Musk. This move was reportedly sparked by Musk's heavy involvement with the Trump administration. The board members met with Musk and asked him to publicly acknowledge that he would dedicate more time to Tesla.

Tesla's official statement, posted on its X account, strongly denied these reports. The statement emphasized that Musk is the CEO of Tesla and that the board is highly confident in his ability to continue executing the company's growth plan. Musk himself described the report as a "deliberately false article" in a follow-up post.

Tesla has been accepting DOGE for merchandise payments on its website since early 2022. Customers can directly connect their DOGE wallets to the site and transfer assets to Tesla’s Dogecoin wallets for purchases, making it the only token supported by the company for such transactions.