No Strong Movement After a Report Claimed Tesla Was Searching for a New CEO to Replace Elon Musk

Dogecoin traded between $0.16 and $0.17 in the past 24 hours. The price showed no strong movement after a report claimed Tesla was searching for a new CEO to replace Elon Musk.

Dogecoin’s price traded in a range of $0.16 and $0.17 during the past 24 hours. The cryptocurrency showed no major price shifts following a report that claimed Tesla was searching for a new CEO to replace Elon Musk.

The broader cryptocurrency market remained mostly flat during the same period. Dogecoin, which is often affected by Musk’s actions, did not show a noticeable reaction this time.

The trading volume for Dogecoin stayed at a consistent level, which might indicate that there was no significant change in trader behavior during the news cycle.

Elon Musk Denies Tesla CEO Exit Report

The report by The Wall Street Journal stated that members of the Tesla board contacted executive search firms in recent weeks. The report said the board was considering a new CEO due to Musk’s involvement with the Trump administration. According to the article, Tesla directors also asked Musk to spend more time managing the company.

Tesla responded directly on X.

“This is absolutely false (and this was communicated to the media before the report was published),”

the company stated on May 1.

“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.”

Elon Musk later posted a statement on X, calling the article a “deliberately false” report. The company did not mention any upcoming leadership changes.

The Wall Street Journal has not issued an update or comment following Musk’s response.

Dogecoin Payments Still Active on Tesla’s Website

Tesla began accepting Dogecoin for merchandise in the early months of 2022. The company set up a system that lets customers link Dogecoin wallets and make payments directly on its site.

Dogecoin is the only token that Tesla accepts for payments. The supported products include accessories and merchandise, but not vehicles.

The company has not announced any changes to its crypto payment policy. Tesla’s Dogecoin integration remains live on its site.

Musk’s continued link to Dogecoin, both through public remarks and business decisions, keeps the token connected to Tesla news. But the leadership report and its denial had no visible impact on Dogecoin price activity.