Top 5 Elon Musk tweets that sent Dogecoin into a frenzy

Elon MuskCEO of Tesla, SpaceX And TwitterA force to be reckoned with in the world of crypto, especially while maintaining its influence dog coin doge/usd,

Musk’s tweets have been known to cause the price of DOGE to skyrocket or fall on a rollercoaster ride of digital wealth. That’s why we’ll delve into the top 5 most influential tweets made by Musk, discovering the dramatic impact these messages had on Dogecoin’s value.

Episode 1 The People’s Crypto

On February 4, 2021, Musk referred to Dogecoin as “the people’s crypto”, causing the meme-based cryptocurrency to immediately soar 50% and start a bull run that reached +166% in the following days.

2. Dogfather

Musk’s one on April 28, 2021 tweets About that Upcoming appearance on Saturday Night Live (SNL) read, “The Doggfather SNL May 8.” The tweet sparked anticipation among investors, leading to a 192% jump in the price of Dogecoin prior to the episode.

However, prices declined following Musk’s appearance on SNL, where he referred to Dogecoin as “the Hustle”. After the appearance, DOGE lost almost 78% of its total value in two months – from $0.73 to $0.16.

3. Dog Devs Collab

During those two months of freefall after SNL, Musk was not idle. Amidst the fallout, he took to his personal Twitter account to discuss DOGE, claiming that he was Collaborating with project developers To increase transaction efficiency. Naturally, investors seized on this comment, as they often do, prompting the coin to climb as much as 75% in value only to get back to continuing the downtrend at $0.16.

4. Let That Sink In

Another unforgettable moment in this saga of tweets was, of course, Musk’s acquisition of Twitter.

Investors have not hesitated to go long on DOGE, speculating a possible integration between the platform and the token, given the entrepreneur’s fanaticism for both projects.

In this instance, the ensuing rally propelled the coin to soar by 160% in just 7 days.

5. Twitter’s new icon

Just a week ago, we experienced another of Musk’s Twitter adventures. The Dogecoin logo on the Twitter homepage replaced its iconic blue icon, leading to a 38% increase in the price of DOGE.

Currently, Musk is facing a $250 million lawsuit from Dogecoin investors alleging a pyramid-scheme-type conspiracy to inflate the coin’s price, which his lawyers describe as a “fiction”. I have rejected. While Kasturi’s charisma may contribute to the widespread adoption of cryptocurrencies, every comment he makes creates significant financial change, putting inexperienced investors’ capital at risk.

It is important to exercise extreme caution when trading, especially with volatile financial assets affected by highly subjective speculation, such as memes and tweets.

Price Action: According to Coinmarketcap, at the time of writing, DOGE was trading at $0.084 (+0.71%).

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