Dogecoin Soars After Elon Musk’s Latest Tweet – 6.6% Spike!
• Elon Musk recently tweeted about Dogecoin, which led to a 6.6 percent increase and Shiba Inu by 2.5 percent.
• According to the Blockchain Research Lab study, there was an average price range of 3 percent on each of the 47 events after a tweet by Musk.
• The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0.0872 as it could not test its key resistance level of $0.09 before recording its first retracement as seen in the chart.
Elon Musk’s Influence On Dogecoin Price
Twitter CEO Elon Musk has been linked to several price surges of Dogecoin (Doge) after his tweets triggered speculations among investors. Just recently, Musk has come up with another tweet, causing a fair increase in the price of the meme coin in the last 24 hours. In a statement that is believed to be an apparent joke, Musk Tweeted: „High time I confessed I let the Doge out.“ There was an image attached to the post with the inscription „It was me, I let the dogs out.“ There was also a follow-up tweet where he wrote „Fact check me @CommunityNotes.“
Effect Of Elon Musks Moves On Cryptocurrency
According to Blockchain Research Lab study on effect of Elon Musk’s moves on cryptos discloses that he has an interesting command over investors. According to study, there was an average price range of about 3 percent on each of 47 events after a tweet by Musk and whenever there is immediate large spike in price there is another 45 minute spike that follows too.
Price Increase Of DogeCoin And Shiba Inu
Following Elon Musks recent tweet about dogecoin, it responded with sharp 6.6 percent increase and Shiba Inu surged by 2.5 percent as well due to mention ‘dogs’ in plural form probably by him in his second tweet “Fact check me @CommunityNotes”
24 Hour Move Of DogeCoin
The 24 hour move of DogeCoin has been within ranges $0 .0832 and $ 0 .0872 as it could not test its key resistance level ($ 0 .09) before recording its first retracement as seen from chart!
Conclusion
In conclusion , according to research done on effect of Elon Musks moves on crypto , it can be observed that he has very influential command over investor sentiments causing huge surge in prices when ever he tweets about any crypto currency like do ge coin or shiba inu !