<ul><li>Dogecoin's rally, driven by speculation about government adoption, took a hit as Elon Musk denied any official role for the meme coin.</li><li>Dogecoin saw a rise after Trump's campaign, with expectations of its involvement in the Department of Government Efficiency (D.O.G.E.) initiative, but Musk confirmed no government adoption.</li><li>Musk's influence on Dogecoin's volatility has diminished, but the token's future depends on regaining investor confidence and capitalizing on retail interest and technical signals.</li><li>Dogecoin's price dropped by 10% in the past week, and the number of millionaire addresses decreased by over 40% since January.</li></ul>

Will Dogecoin Reach $10? Price Drops as Musk Shuts Down Speculation on Government Adoption

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