HomeNewsShiba Inu and Pepe Competitor Dogecoin Gets Massive Boost from Twitter and...

Shiba Inu and Pepe Competitor Dogecoin Gets Massive Boost from Twitter and Tesla CEO Elon Musk – $0.10 Goal?

- Advertisement -
  • Elon Musk, often dubbed the “Dogefather”, makes another reference to Dogecoin.
  • Dogecoin experiences a restrained price shift, gaining 0.9% over the last 24 hours.

Elon Musk and His Endearing DOGE Affiliation

Tech mogul Elon Musk, known for his penchant for cryptic tweets, has once more brought Dogecoin (DOGE) to the spotlight. This time, in connection with the mysterious “X”, Musk playfully stated,

“X is a dog and Doge friendly place!”

on a popular social media platform.

- Advertisement -

>> Buy Shiba Inu quickly and securely with PayPal, credit card or bank transfer at eToro with low fees and deposit protection. Get started with SHIB now. Visit Website <<

A History of Influential Tweets

Musk’s public dalliance with Dogecoin isn’t new. His self-proclaimed titles, “Dogefather” and “Dogecoin CEO”, are testament to the deep-rooted association he has nurtured with the meme-inspired cryptocurrency. The billionaire’s remarks have, on numerous occasions, significantly influenced the coin’s valuation.

- Advertisement -

A vivid demonstration of this dynamic occurred in April. Prior to renaming Twitter to “X”, Musk, then Tesla’s CEO, unexpectedly replaced the platform’s iconic blue bird emblem with the Shiba Inu dog from Dogecoin’s logo. This move promptly accelerated DOGE’s price, propelling it upwards by a remarkable 30%. Such instances exemplify the cryptocurrency market’s sensitivity to Musk’s commentary on Dogecoin.

DOGE’s Tepid Response to Musk’s Mention

However, in a departure from previous robust reactions, Dogecoin’s price exhibited a rather restrained uptick following Musk’s latest acknowledgment. At the time of this article, the coin has witnessed an incremental rise of 0.6% in the preceding hour and a cumulative 0.9% over the past day.

The recent times have been challenging for the meme coin. Over the last month, it receded by a significant 16.8% and further contracted by 10.3% in the past week. After reaching a zenith of $0.0817 towards the end of July, Dogecoin is currently exchanging hands at $0.0633, backed by a 24-hour trading volume hovering around $370 million.

Best Crypto Exchange for Everyone:

  • Invest in Shiba Inu 70+ cryptocurrencies and 3,000 other assets.
  • 0% commission on stocks – buy in bulk or just a fraction from as little as $10.
  • Copy top-performing traders in real time, automatically.
  • Regulated by financial authorities including FAC and FINRA.

2.8 Million Users

Get Started


- Advertisement -
ETHNews does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to cryptocurrencies. ETHNews is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned.
Brian Johnson
Brian Johnson
A dedicated Bitcoin journalist passionate about uncovering the latest trends, developments, and innovations in the world of cryptocurrency, while delivering engaging and well-researched articles to inform and educate readers on the dynamic digital finance landscape.
- Advertisment -spot_img