Dogecoin ended the day at $0.217, up 1.2%, while its May ATH is still 71% below $0.7376. The meme coin, which has long been deprived of the tweets of its biggest supporter, Elon Musk, is managing on its own as the Tesla CEO now turns to other memes. But the latest Musk tweet changed course. Here are the details…
Elon Musk recommends meme coin project
Dogecoin price has increased by about 3527.7% since the start of the year. It fell 24.17% in the last 90 days and 24.17% in the 30-day period. In recent developments, the global cryptocurrency market cap lost 1.4% to $2.6 trillion, and the recovery process has continued since November 26. As the recovery continues, crypto news and research resource Coindesk shared the following data:
Ethereum’s high transaction fees have made DeFi inaccessible to small investors.
Elon Musk responds to tweet DOGE
According to Cointrendz data, meme coin DOGE was not among the most mentioned cryptocurrencies on Twitter prior to Musk’s tweet. The three most mentioned cryptocurrencies were Bitcoin, Solana, and Ethereum. They shot 943, 884 and 629 tweets, respectively. Dogecoin, on the other hand, managed to enter among the most talked about cryptos with the tweet of Elon Musk. Tesla CEO replied “Dooooge” to the Coindesk tweet, which stated that the Ethereum network is increasingly moving away from small investors.
Apart from that, experts said the following about Dogecoin during the week:
- Jordan Belfort said the DOGE and Shiba Inu “have no value and no benefit.” In an interview with The Sun, he said that the creators of these cryptocurrencies “should go to jail.”
- Melanie Schaffer said on Thursday that traders will want to watch if DOGE can bounce back above Tuesday’s high of $0.228 – marking a trend change.
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