Musk Weighs In On Dogecoin
  • 2 years ago
As the global cryptocurrency market fluctuates, Dogecoin has been at the center of a circus of attention from its co-creator, Tesla ($TSLA@US) CEO Elon Musk, and analysts around the world. Doge dropped over 2% in the past 24 hours, but it rose 8% in the previous 7 days. After losing a percent to Bitcoin and a fraction of a percent to Ethereum, DOGE is still confusing analysts and investors, especially as it has lost nearly a percent in the past 30 days and nearly 35% in the past 90 days. However, DOGE bull Elon Musk is constantly tweeting about the currency, trying to pump it up—often to no avail. Even as DOGE was one of the most mentioned tokens on Twitter ($TWTR@US) on Tuesday and Dallas Mavericks owner Mark Cuban has been a strong proponent, the meme coin hasn’t taken off. Musk even tweeted a photo of a rocket going to the moon with the test, “back to the moon soon.” That hasn’t come to fruition yet, as DOGE has only gained about a percent as of press time, sitting at 16.54 cents on decreasing volume and a slight uptick in its market cap.
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