Pioneer of meme coin space dogecoin (DOGE) succeeded in bringing many projects, especially Shiba Inu, into the ecosystem.
Although DOGE is quite an old entity, it gained its real popularity with the support of Elon Musk. DOGE price rose strongly under Musk’s influence, helping it find its place among the most valuable assets. However, the year 2022 has had many different effects on the price of meme coin.
Analyst Announces: This Altcoin Can Overtake Bitcoin!
Everything turned upside down when Elon Musk bought Twitter. Dogecoin rallied over 100% after the Twitter acquisition, hoping Musk would integrate it into Twitter.
Elon Musk and Dogecoin Relationship
Dogecoin faced great anticipation after the Twitter news. As a matter of fact, the news has not been as expected so far.
While the community is still waiting for a surprise statement, the question marks in mind are increasing. While many names are debating whether Elon Musk forgot about the project, the price performance is not going well either.
As a result, positive news from Elon Musk will also positively affect the DOGE price.