Did Dogecoin Miss Its Ticket to $1 with Musk's Failed Twitter Deal?
The burning question on every Dogecoin holder's mind: did Elon Musk's tumultuous Twitter saga derail DOGE's potential rise to $1? The answer, it seems, is complicated. The implosion of Elon Musk's Twitter purchase crushed hopes for the meme coin's widespread acceptance, causing Dogecoin (DOGE) to tumble on Saturday.
Remember when Musk shook the internet by announcing his interest in purchasing social media giant Twitter? Following this, Dogecoin began witnessing abrupt spikes in its price. Optimism soared that Musk's influence and potential integration of Dogecoin into the platform would propel its value skyward.
However, the deal's collapse had a significant impact. Dogecoin dropped by 19.5% after Musk called off the Twitter deal on July 8. In doing so, DOGE also invalidated its prevailing inverse head and shoulders (IH&S) pattern, a technical indicator that many saw as a bullish signal.
But the relationship between Musk and Dogecoin is a long and winding one. Fo 7 de sept. de 2025 Tesla founder Elon Musk saved the price of Dogecoin (DOGE) from crashing. If Musk hadn’t made a post on X, there was a high possibility that DOGE's price wouldn't have rebounded. His tweets have historically been powerful catalysts for price movement.
In his letter to Twitter, Musk cited a lack of disclosure from Twitter in its assessment of spam and fake accounts on the platform. The Tesla CEO had paused the acquisition, leading to uncertainty that rippled through the crypto market, affecting Dogecoin significantly.
Recently, Musk's tweet seemingly failed to boost prices this time around, hinting at a potential shift in dynamics. Examining DOGE's daily chart unveils a familiar pattern of price fluctuations, largely influenced by external factors and market sentiment, highlighting that while Musk's influence remains, it might not be as potent as before.
So, did Dogecoin miss its ticket to $1? The failed Twitter deal certainly dealt a blow. While the future remains uncertain, Dogecoin's fate is likely intertwined with broader market trends and its ability to establish genuine utility beyond being a meme.