Key notes
- Tesla shareholders approved Musk’s compensation plan with more than 75%, potentially making him the first billionaire.
- Dogecoin outperformed major cryptocurrencies while Bitcoin and Ethereum saw losses of 2% and 3% respectively.
- Derivatives markets saw a 41% increase in trading activity, with open interest rising 10.5% on November 7.
Dogecoin
DOGE
$0.18
24h volatility:
11.8%
Market capitalization:
$27.12 billion
Flight. 24h:
$2.77 billion
the price rose 6.5% to $0.17 on November 7, outperforming major digital assets as Elon Musk gained approval from Tesla’s board of directors for his record $1 trillion compensation plan. The rally follows a lengthy legal dispute that delayed Musk’s payment.
Dogecoin Price Surpasses Top 10 Cryptocurrencies on November 7, 2025 | Source: Coingecko
Tesla shareholders overwhelmingly supported the proposal at the company’s annual meeting, with more than 75% of investors voting in favor. The plan grants Musk up to 423.7 million Tesla shares over the next decade, contingent on the company hitting aggressive operational and market capitalization milestones.
If Tesla reaches a valuation of $8.5 trillion, Musk’s holdings would make him the world’s first billionaire, a status that could further boost investor confidence in Musk’s market influence. Dogecoin’s 6.5% rally stood out amid a largely bearish week for major cryptocurrencies, including Bitcoin.
BTC
$102,849
24h volatility:
1.1%
Market capitalization:
$2.04T
Flight. 24h:
$90.07 billion
and Ethereum
ETH
$3,434
24h volatility:
3.0%
Market capitalization:
$413.84 billion
Flight. 24h:
$27.95 billion
each showing losses of 2% and 3% at the time of reporting.
Dogecoin traders have always followed Musk’s market movements, often responding to his trading milestones and cryptic comments online.
Musk eyes partnership with Intel as Dogecoin rally gains momentum
Elon Musk also flagged a potential collaboration between Tesla and Intel, sparking a 2.3% rise in Intel stock during Friday’s early trading. According to a Reuters report, Musk noted that while current chip suppliers TSMC and Samsung have met his expectations, future production needs for Tesla’s AI-based systems could exceed current capacity.
The electric vehicle maker is building custom AI chips to enhance its autonomous driving capabilities and is exploring semiconductor partnerships to ensure scalability. Musk’s comments highlight Tesla’s growing ambitions to design its chip in-house while partnering with major manufacturers for manufacturing.
Analysis of Dogecoin Derivatives Markets | Source: Coinglass
Dogecoin derivatives markets also saw a 41% surge in trading activity on November 7, while DOGE open interest increased by 10.5%, confirming intense speculative reactions to Elon Musk’s payday plan. Open interest, lagging the 13% price increase at press time, reflects a greater impact from spot purchases than new leveraged positions. This puts DOGE price in a prime position to extend gains towards the $0.20 mark in the coming sessions.
Elon Musk’s connection to Dogecoin has been highlighted, as the price of Dogecoin has risen against the tide. Elon Musk also sparked a significant reaction in the crypto market in October when he released a comical video calling Floki Inu.
FLOKI
$0.000066
24h volatility:
12.2%
Market capitalization:
$632.61 million
Flight. 24h:
$95.52 million
the price of the new CEO of X. Floki Inu increased by more than 27% after this publication.
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Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article is intended to provide accurate and current information, but should not be considered financial or investment advice. Because market conditions can change quickly, we encourage you to verify the information for yourself and consult a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with experience supporting various Web3 startups and financial organizations. He completed his undergraduate degree in Economics and is currently studying for a Master’s degree in Blockchain and Distributed Ledger technologies at the University of Malta.
Ibrahim Ajibade on LinkedIn
