Elon Musk has made a stunning decision to completely sever ties with Dogecoin (DOGE), the cryptocurrency he once championed, in a desperate bid to save Tesla from financial ruin. The move comes as Tesla grapples with a staggering 71% profit plunge in Q1 2025, with revenues dropping 9% to $19.3 billion and vehicle deliveries falling 13% to 336,681 units—the company’s worst quarter since 2022. Musk’s exit from DOGE, both as a political role in the Trump administration’s Department of Government Efficiency and as a supporter of the meme-based cryptocurrency, marks a dramatic shift for the billionaire, whose influence has long shaped DOGE’s trajectory. This decision, announced on April 22, 2025, has left the crypto and financial worlds reeling, with many questioning whether this signals the end of an era for Musk’s crypto legacy.
Tesla’s woes are deeply tied to Musk’s political involvement, which sparked global backlash. His role in DOGE, where he pushed for federal spending cuts, led to protests and vandalism targeting Tesla, particularly in Europe, where sales dropped 76% in Germany. Consumers, especially environmentally conscious EV buyers, turned away from Tesla, associating the brand with Musk’s endorsement of right-wing causes. Meanwhile, Chinese rival BYD capitalized on the chaos, overtaking Tesla as the top EV seller with a 75% sales surge in Europe. Tesla’s stock has also cratered, losing 50% of its value since December 2024, wiping out $700 billion in market valuation. Musk initially planned to reduce his DOGE role to one or two days a week starting in May, but the severity of Tesla’s crisis forced a complete exit.
Musk’s relationship with Dogecoin, the cryptocurrency, has also been a rollercoaster. Once a vocal supporter—tweeting endorsements and integrating DOGE payments for Tesla merchandise—Musk’s influence drove massive price swings, with DOGE soaring 10% to $0.15 as recently as April 8, 2025. However, recent market trends suggest DOGE is decoupling from Musk’s sway, as its price movements now align more with broader crypto market flows than Musk’s actions. His decision to abandon DOGE entirely, including halting Tesla’s involvement with the cryptocurrency, reflects a strategic pivot to distance the company from further controversy and refocus on core operations.
Is this the end of an era? For Dogecoin, Musk’s exit could mark a turning point, forcing the crypto to stand on its own amid a volatile market. For Tesla, Musk’s full return to leadership offers a glimmer of hope, with promises of affordable models by June 2025 and a driverless robotaxi service by year-end. Yet, skepticism lingers, given Tesla’s history of delayed timelines and the deep brand damage inflicted. As Musk navigates this financial chaos, the world watches to see if he can steer Tesla back to stability—or if this marks the beginning of a steeper decline for the once-unstoppable tech titan.
Elon Musk has made a stunning decision to completely sever ties with Dogecoin (DOGE), the cryptocurrency he once championed, in a desperate bid to save Tesla from financial ruin. The move comes as Tesla grapples with a staggering 71% profit plunge in Q1 2025, with revenues dropping 9% to $19.3 billion and vehicle deliveries falling 13% to 336,681 units—the company’s worst quarter since 2022. Musk’s exit from DOGE, both as a political role in the Trump administration’s Department of Government Efficiency and as a supporter of the meme-based cryptocurrency, marks a dramatic shift for the billionaire, whose influence has long shaped DOGE’s trajectory. This decision, announced on April 22, 2025, has left the crypto and financial worlds reeling, with many questioning whether this signals the end of an era for Musk’s crypto legacy.
Tesla’s woes are deeply tied to Musk’s political involvement, which sparked global backlash. His role in DOGE, where he pushed for federal spending cuts, led to protests and vandalism targeting Tesla, particularly in Europe, where sales dropped 76% in Germany. Consumers, especially environmentally conscious EV buyers, turned away from Tesla, associating the brand with Musk’s endorsement of right-wing causes. Meanwhile, Chinese rival BYD capitalized on the chaos, overtaking Tesla as the top EV seller with a 75% sales surge in Europe. Tesla’s stock has also cratered, losing 50% of its value since December 2024, wiping out $700 billion in market valuation. Musk initially planned to reduce his DOGE role to one or two days a week starting in May, but the severity of Tesla’s crisis forced a complete exit.
Musk’s relationship with Dogecoin, the cryptocurrency, has also been a rollercoaster. Once a vocal supporter—tweeting endorsements and integrating DOGE payments for Tesla merchandise—Musk’s influence drove massive price swings, with DOGE soaring 10% to $0.15 as recently as April 8, 2025. However, recent market trends suggest DOGE is decoupling from Musk’s sway, as its price movements now align more with broader crypto market flows than Musk’s actions. His decision to abandon DOGE entirely, including halting Tesla’s involvement with the cryptocurrency, reflects a strategic pivot to distance the company from further controversy and refocus on core operations.
Is this the end of an era? For Dogecoin, Musk’s exit could mark a turning point, forcing the crypto to stand on its own amid a volatile market. For Tesla, Musk’s full return to leadership offers a glimmer of hope, with promises of affordable models by June 2025 and a driverless robotaxi service by year-end. Yet, skepticism lingers, given Tesla’s history of delayed timelines and the deep brand damage inflicted. As Musk navigates this financial chaos, the world watches to see if he can steer Tesla back to stability—or if this marks the beginning of a steeper decline for the once-unstoppable tech titan.
