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? …unsuitable 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 features made following the tweet.
DOGE is up roughly 19% year-to-date as the general crypto market is displaying early indicators of restoration following a tumultuous 12 months of crypto corporations collapsing.
Regardless of the inexperienced 2023, DOGE is down 89.2% from its all-time excessive of $0.75, in response to CryptoSlate information.
Musk, Twitter & Dogecoin
On account of Musk’s tweets and information about him and his firms, Dogecoin’s value has virtually all the time spiked or fallen. The memecoin group hopes that Dogecoin might be additional included into Musk’s varied companies as he has repeatedly proven assist for the coin.
Since Musk acquired Twitter, there have been rumors that Doge could turn out to be the defacto foreign money for “tipping” creators on the platform. There isn’t any credible proof to substantiate the rumors to date. After Musk determined to step down as CEO as soon as an enough alternative is discovered, the Dogecoin on Twitter narrative appears to have fizzled out to a big diploma.
Nevertheless, Musk reportedly employed a small workforce in January to find out how Twitter can faucet into the monetary providers market as a digital cost processor, which might embody crypto. The social media big is at present making use of for licenses within the U.S. on a state and federal stage.
In line with the studies, Musk intends to initially deal with gaining approval for fiat and hopes to have the ability to broaden that into crypto down the road.
On the time of press, Dogecoin is ranked #9 by market cap and the DOGE value 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. Study extra ›
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%. Study extra ›
