Categories: Uncategorized

Elon Musk’s most recent attempt to pump DOGE failed miserably

DOGE price has gone up but not skyrocketed after receiving further confirmation from Elon Musk on Twitter today.

The billionaire businessman (self-proclaimed “The Godfather of Dogecoin”) posted a tweet at around 3:43 pm KST showing Marlon Brando’s iconic character from The Godfather, Don Vito Corleone, which reads:

“Come on over to me and I’ll tell you the code you’re running isn’t working.”

Meanwhile, Musk has added an exclamation mark to the tweet with the words “Free the Doge”.

Seconds after the tweet, the DOGE / USD rate jumped from $ 0.24 to $ 0.261 – about 8.42%. However, a sell-off soon ensued, pushing the pair as low as $ 0.247. At 4:24 p.m. local time, Musk tweeted another hilarious Dogecoin message. Have content:

“Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, Doo, doo, doo, Baby Doge”.

DOGE / USD rose 5.22% to $ 0.26 after the second tweet.

1 minute candlestick chart shows Price DOGE after Musk’s tweets | Source: TradingView

For the next several hours, DOGE / USD attempted to retake the intraday high of $ 0.261, but profit takers continued to offset the uptrend, as shown by the bullish wick of the large minute candle in the chart above.

However, DOGE is still down nearly 0.5% in afternoon trading, suggesting Musk’s influence in the crypto market is wearing off.

Earlier this year, Dogecoin’s enthusiastic endorsements from the Tesla CEO resulted in a price spike, led by retailers. As a result, the market capitalization of this cryptocurrency peaked at nearly $ 100 billion in early May.

Odd Lots Podcast presenter Joe Weisenthal also tweets:

“Even Elon, who tweeted about DOGE, stopped working.”

Meanwhile, on May 8th of this year, the DOGE / USD rate rose to a record high of USD 0.76.

The pair is now worth half what it was 2 months ago, largely due to a significant market correction that saw most of the highest capitalization assets, including Bitcoin, ETH and Bitcoin.XRP, down more than 50%. Altcoins like DOGE are often traded synchronously with Bitcoin.

“Damn it. WOMENEven Elon Musk can no longer pump DOGE. BILLIONwe will all die drown in the poor heavy“.

Baby doge explodes

While DOGE was seeing rapid price spikes, its clone meme token named Baby Doge soared after Musk’s 16:24 tweet.

Baby Doge’s price is too low to calculate | Source: CoinMarketCap

Baby Doge was worth about $ 0.00000001 before Musk’s tweet, but is up more than 35% since. Currently the price has increased nearly 90% in the last 24 hours. However, the value of this meme token is still too low even if CoinMarketCap tries to calculate it. The market capitalization is also zero at the time of going to press.

Minh Anh

According to Cointelegraph

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

6 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.