Dogecoin fan Elon Musk is a figure known for his power to influence the cryptocurrency markets. Musk, who draws attention from time to time with his posts containing mysterious messages, this time confused the cryptocurrency community by posting a “dog wearing a hat” themed tweet. Some investors suggest that Musk’s post contains a message for the altcoin called Dogwifhat (WIF). While there was a 32% increase in the price of WIF after the sharing, it is not known whether Musk’s sharing was intentional or not.
Not Dogecoin: WIF is up
Elon Musk is a figure known for his power to influence the cryptocurrency markets. Musk, who draws attention from time to time with his posts containing mysterious messages, this time confused the cryptocurrency community by posting a “dog wearing a hat” themed tweet. Some cryptocurrency investors suggest that Musk’s post contains a message for the altcoin called Dogwifhat (WIF). There is an explanation for this comment, as WIF’s mascot is also the dog in the hat.
There are three hatted dogs in the post, and one of them is the Shiba Inu dog, WIF’s mascot. After Musk’s post, there was a 32% increase in the price of WIF. This suggests that investors interpreted Musk’s message as a nod to WIF. But whether Musk really meant WIF or St. It is not known whether he shared an ordinary post due to St. Patrick’s Day. According to some, Musk has been sharing mysterious messages that would affect the cryptocurrency markets in the past. Considering this, it is likely that this post was also intentional.
The rise of Dogwifhat
cryptokoin.com As we reported, Dogwifhat is a meme coin running on the Solana Blockchain. As the interest in meme coins has increased recently, the price of Dogwifhat has also started to rise. Elon Musk’s post may also have triggered this rise. Prices of other meme coins such as Dogecoin and Shiba Inu have also been on the rise recently. Musk’s post may also have affected these coins. Dogecoin gained 3% and Shiba Inu gained 8%.
Elon Musk’s post caused a new fluctuation in the cryptocurrency markets. Dogwifhat’s price increased by 32% with Musk’s post. Prices of other meme coins are also on the rise. Time will tell whether Musk’s post will have a long-term impact on the cryptocurrency markets. Before ending our article, it is worth noting that cryptocurrency markets are volatile. Therefore, the information in this news should not be interpreted as investment advice. It is also important to do your own research and consider the risks before investing.
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