Elon Musk Debunks Resignation Rumors

A whirlwind of speculation hit the crypto and political spheres as reports emerged that Elon Musk had stepped down from his role in the Trump administration. However, these rumors were swiftly debunked—by Musk himself. Taking to his X account, Musk retweeted a post clarifying that he has not resigned and will only depart “once his job is finished.” He further stated that he is “just getting started” and uncovering significant government inefficiencies.

Crypto Market Reacts to the Fake News

Musk's influence on the crypto market is undeniable, and even false reports about his decisions can create volatility. Following the initial wave of misinformation, Dogecoin (DOGE) and other Musk-associated cryptocurrencies saw temporary fluctuations. However, as the truth emerged, markets stabilized.

This incident highlights how quickly misinformation can spread and influence crypto sentiment. It also reinforces the importance of verifying news, especially when it involves figures like Musk, whose words and actions can shift markets in an instant.

Dogecoin Price Prediction: Is DOGE Price Affected by Elon's work?

Dogecoin has been on a downward trend so far, but that's because the entire crypto market is currently bearish. Since mid-March however, Dogecoin saw stability around the price of $0.15 and $0.17. 

DOGE/USDT 1-day chart - TradingView via Bitget

From a technical perspective, the fast and slow MAs seem to have crossed, indicating a temporary pause in the Dogecoin price down, and a potential upward movement. 

What’s Next for Musk and Crypto?

As Musk continues his role in the administration, his involvement in uncovering government inefficiencies could have far-reaching implications—not just politically, but also for the broader tech and financial sectors, including cryptocurrency. With his commitment to innovation and disruption, the crypto community will be closely watching what he does next.

For now, one thing is clear: Musk is here to stay, and his impact on both politics and digital assets is far from over.

The US stock market has continued its early 2025 struggles as companies look to position themselves to benefit from an inevitable turnaround. Among them is Amazon (AMZN), which has announced a new expansion to its AI push that has the stock hoping it could put an end to its 8-week losing streak.

The company is firmly entrenched as a top stock in both the AI and cloud-computing sectors. Indeed, this most recent development will see it look to increase competition with the former, as it seeks to shrug off early-year losses likely connected to the impending tariffs planned by US President Donald Trump.

Also Read: Amazon (AMZN) Key AWS AI Expansion Pushes Stock Up: Is It $305 Bound?

Amazon Targeted Increased AI Push: Can It Overcome Market Downturn?

April 2nd has been lauded by President Trump as America’s ‘Liberation Day.’ Specifically, it will see the nation integrate an aggressive economic policy that issues reciprocal tariffs on a host of nations. The effort to balance trade has only enhanced the theme of 2025 so far: uncertainty.

Yet, that has not stopped companies from seeking to move forward. Despite the downturn, firms are hoping to catch the good graces of Wall Street. For Amazon (AMZN), that has come in the form of an expanded AI push that will hopefully end the e-commerce giant’s 8-week losing streak.

On Monday, Amazon launched a new general-purpose AI agent, according to an Investors Business Daily report. Indeed, the Amazon Nova Act AI is said to “reliably perform basic tasks inside a web browser, such as setting an exact time to order a food delivery each week.”

Also Read: Amazon Stock April 2025 Price Prediction (AMZN)

The product is viewed as the first launch of Amazon’s AGI SF Lab. The California-based research group came to fruition in February. Moreover, it is looking to compete with web browser assistants like OpenAI’s ChatGPT. The question is, can it help the company’s falling stock?

With more than $100 billion in capital expenditure planned for this year, it is driven to compete. However, over the last five days, the stock has dropped 4.5%, with it down 13.5% year to date.

Falling below the $200 level hasn’t scared off analysts, however. CNN data shows that 93% of 76 analysts have a buy rating on Amazon stock. Moreover, it holds a median price target of $270, denoting a 40% upside for most experts. Yet, at the high end, the stock could reach heights above the $300 mark over the next 12 months.