Dogecoin spiked 5% on Feb. 13 after Elon Musk tweeted concerning the memecoin in a joking reply to a photograph of him sitting with Fox Information proprietor Rupert Murdoch with the caption:
“What are they speaking about? …flawed solutions solely.”
Regardless of the humorous nature of the tweet and Musk’s joking response, the memecoin climbed to as excessive as $0.086 earlier than retracing to 0.081 and eliminating the beneficial properties made following the tweet.
DOGE is up roughly 19% year-to-date as the general crypto market is exhibiting early indicators of restoration following a tumultuous yr of crypto corporations collapsing.
Regardless of the inexperienced 2023, DOGE is down 89.2% from its all-time excessive of $0.75, in keeping with CryptoSlate knowledge.
Musk, Twitter & Dogecoin
Because of Musk’s tweets and information about him and his firms, Dogecoin’s worth has virtually at all times spiked or fallen. The memecoin group hopes that Dogecoin will probably be additional integrated into Musk’s numerous companies as he has usually proven assist for the coin.
Since Musk acquired Twitter, there have been rumors that Doge might develop into the defacto foreign money for “tipping” creators on the platform. There is no such thing as a credible proof to substantiate the rumors to date. After Musk determined to step down as CEO as soon as an ample substitute is discovered, the Dogecoin on Twitter narrative appears to have fizzled out to a big diploma.
Nevertheless, Musk reportedly employed a small group in January to find out how Twitter can faucet into the monetary companies market as a digital fee processor, which may embrace crypto. The social media large is at present making use of for licenses within the U.S. on a state and federal stage.
In keeping with the stories, Musk intends to initially deal with gaining approval for fiat and hopes to have the ability to develop that into crypto down the road.
On the time of press, Dogecoin is ranked #9 by market cap and the DOGE worth is down 4.24% over the previous 24 hours. DOGE has a market capitalization of $10.72 billion with a 24-hour buying and selling quantity of $754.6 million. Be taught extra ›
DOGEUSD Chart by TradingView
Market abstract
On the time of press, the worldwide cryptocurrency market is valued at at $991.93 billion with a 24-hour quantity of $57.8 billion. Bitcoin dominance is at present at 41.91%. Be taught extra ›
