Elon Musk’s tweets in the last few months had some wide and significant effects on Dogecoin price. But meanwhile after his last tweets and his support for Dogecoin, active people in the cryptocurrency market did not pay any attention to his tweets and market continued its flow without slightest attention to Elon Musk.
After this strange and odd event, a lot of cryptocurrency activists are saying that Musk’s sayings are no longer effecting on Dogecoin price and has lost its influence on Dogecoin price.
According to Cointelegraph, Elon Musk had a lot of activities to effect on Dogecoin and market that didn’t influence on them.
Elon Musk posted a picture of the Godfather’s famous character, Don Vito Corleone and wrote:
Release the Doge!
On the picture that Musk posted in his twitter, this was written in Godfather style:
YOU COME TO ME AT RUNTIME TO TELL ME THE CODE YOU ARE EXECUTING DOES NOT COMPILE
A while after in this Elon Musk’s tweet, we were witnessing the Dogecoin’ price increasing from 0.2 dollars to 0.261 dollars but a little while after this event, the sells increasing in Dogecoin market caused Dogecoin’s price descending to 0.247 dollars. Elon Musk wrote a weird tweet after that happened:
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge
Dogecoin’s price had another 5 percent increasing after the second tweet too and reached to 0.26 dollars.
In a few hours after Elon Musk’s tweet, Dogecoin’s price was increased to 0.261 dollars, but dealers profit withdrawal stopped it from increasing more. The long shadow of the one-minute price candles shows this very good.
Elon Musk caused some Notable jumps in Dogecoin’s price at the beginning of this years and after supporting and praising this cryptocurrency. In the beginning of last month, Dogecoin market value did go to the 100 billion dollars’ edge. At that time the price of every Dogecoin was at the 0.76 dollars and a hot market was started for it.
Dogecoin’s current price has decreased almost 50% than its last to month. Of course the big digital currencies in the market like Bitcoin, Ethereum and ripple have experienced more than 50% falls and the market’s descending flow has added to the Dogecoin’ Price falling.
A funny point about Eon Musk’s Tweets about Dogecoin was Baby Dogecoin’s price increasing. This cryptocurrencies price had a notable jump after Musk’s tweets
Baby Dogecoin was dealing with 0.00000001 dollars’ price before Elon Musk’s tweet and after the tweet it had a 35% growth. The price of this cryptocurrency is to low that Coin Market website’s cap can’t calculate its value in market and shows a zero for its value.
