Dogecoin (CRYPTO: DOGE) traded 2.27% decrease at $0.25 within the early hours of Thursday after Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s newest “dogz rūl” tweet.
What Occurred: Musk was replying to a meme posted by a Twitter consumer, which tracked the evolution of canine as companions to people.
Yeah, however dogz rūl
— Elon Musk (@elonmusk) July 1, 2021
DOGE, the sixth-largest cryptocurrency by market cap, remains to be up 6.53% for the week.
Why It Issues: Musk usually tweets about DOGE, however his tweets don’t all the time drive up the value of the Shiba Inu-themed cryptocurrency.
See Additionally: How To Purchase Dogecoin (DOGE)
On Monday, the Tesla CEO introduced that his personal Shiba Inu will likely be named Floki. A cryptocurrency by the identical identify rapidly emerged quickly after and registered a large surge.
Dogecoin is witnessing a droop this month, down 35%, however its year-to-date features nonetheless stand at a whopping 4206%, as of press time.
Learn Subsequent: Telcoin, Fantom, Shiba Inu — Altcoins Seeing Excessive Social Media Curiosity At the moment
For the most recent in monetary information, unique tales, memes comply with Benzinga on Twitter, Fb & Instagram. For the perfect interviews, inventory market speak & movies, subscribe to our YouTube channel.
© 2021 Benzinga.com. Benzinga doesn’t present funding recommendation. All rights