{"id":603467,"date":"2024-04-16T12:30:39","date_gmt":"2024-04-16T12:30:39","guid":{"rendered":"https:\/\/wncen.com\/?p=603467"},"modified":"2024-04-16T11:40:13","modified_gmt":"2024-04-16T11:40:13","slug":"elon-musk-latest-tweet-how-much-did-dogecoin-gain-from-it-today","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/dogecoin\/elon-musk-latest-tweet-how-much-did-dogecoin-gain-from-it-today\/","title":{"rendered":"Elon Musk Latest Tweet: How Much Did Dogecoin Gain From It Today?"},"content":{"rendered":"<p data-sourcepos=\"3:1-3:290\">The cryptocurrency market tends to thrive on a blend of innovation, utility, and sometimes, just a good meme. This week, the spotlight shone brightly on Dogecoin (DOGE), the Shiba Inu-themed meme coin, after a characteristically playful tweet from tech billionaire Elon Musk sent prices soaring.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-fire-sale-deep-pocketed-investor-snags-nearly-24000-eth-at-bargain-price\/\" target=\"_blank\" rel=\"noopener \">Ethereum Fire Sale? Deep-Pocketed Investor Snags Nearly 24,000 ETH At Bargain Price<\/a><\/div>\n<p data-sourcepos=\"5:1-5:432\">While the tweet itself referenced a scene from Monty Python and didn&#8217;t directly mention Dogecoin, its timing, with DOGE hovering near the cusp of the top 10 cryptocurrencies by market cap, proved to be enough to ignite a firestorm of trading activity.<\/p>\n<p data-sourcepos=\"5:1-5:432\">This latest episode serves as a stark reminder of the immense influence Musk wields over the meme coin market, and the hair-trigger reflexes of Dogecoin&#8217;s dedicated community.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"zxx\"><a href=\"https:\/\/t.co\/wXlbpNU97H\" rel=\"nofollow\">pic.twitter.com\/wXlbpNU97H<\/a><\/p>\n<p>\u2014 Elon Musk (@elonmusk) <a href=\"https:\/\/twitter.com\/elonmusk\/status\/37679625?ref_src=twsrc%5Etfw\" rel=\"nofollow\">April 15, 2024<\/a><\/p><\/blockquote>\n<h2 data-sourcepos=\"7:1-7:43\"><strong>Dogecoin Rollercoaster Ride Continues<\/strong><\/h2>\n<p data-sourcepos=\"9:1-9:409\">This isn&#8217;t the first time Musk has sent shockwaves through the Dogecoin world. In 2021, his enthusiastic endorsements, including a now-famous appearance on Saturday Night Live where he jokingly referred to himself as the &#8220;Dogefather,&#8221; propelled DOGE to its all-time high. However, the meme coin&#8217;s meteoric rise proved unsustainable, and prices eventually settled into a lower, but still respectable, position.<\/p>\n<p data-sourcepos=\"9:1-9:409\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full\" src=\"https:\/\/www.tradingview.com\/x\/KR1P41aY\/\" width=\"1835\" height=\"883\"><\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"11:1-11:550\">Bitcoin is now trading at $62.611. Chart: <a href=\"https:\/\/www.tradingview.com\/\" target=\"_blank\" rel=\"noopener nofollow\">TradingView<\/a><\/pre>\n<p data-sourcepos=\"11:1-11:550\">Currently, Dogecoin sits comfortably as the eighth-largest cryptocurrency, boasting a market cap of over $22 billion. However, there was a different narrative in the price department.<\/p>\n<p data-sourcepos=\"11:1-11:550\">At the time of writing, DOGE was trading at $0.15, <a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogecoin\" target=\"_blank\" rel=\"noopener nofollow\">down 8.4% and 22.9%<\/a> in the daily and weekly timeframes, data from Coingecko shows. Clearly, the Musk tweet magic didn&#8217;t work this time. Or, perhaps not yet?<\/p>\n<p data-sourcepos=\"11:1-11:550\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-603475\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_9d21a4.png?resize=671%2C406\" alt=\"\" width=\"671\" height=\"406\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_9d21a4.png?w=671 671w, https:\/\/wncen.com\/wp-content\/uploads\/2024\/04\/a_9d21a4.png?w=460 460w\" sizes=\"(max-width: 671px) 100vw, 671px\"><\/p>\n<pre style=\"text-align: center\" data-sourcepos=\"11:1-11:550\">DOGE 24-hour price action. Source:<a href=\"https:\/\/www.coingecko.com\/en\/coins\/dogecoin\" target=\"_blank\" rel=\"noopener nofollow\"> Coingecko<\/a><\/pre>\n<p data-sourcepos=\"11:1-11:550\">A quick look at DOGE&#8217;s daily chart reveals a classic case of price resistance, where the coin struggles to break through specific price ceilings. This back-and-forth price action reflects the ongoing battle between enthusiastic buyers, emboldened by figures like Musk, and more cautious investors wary of the coin&#8217;s unpredictable nature.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-bonanza-before-the-halving-analyst-sees-pre-crash-buying-window\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window<\/a><\/div>\n<h3 data-sourcepos=\"19:1-19:523\"><strong>No Price Boost This Time<\/strong><\/h3>\n<p data-sourcepos=\"19:1-19:523\">Elon Musk&#8217;s tweets have long been synonymous with skyrocketing memecoin values, yet today&#8217;s unexpected downturn in Dogecoin following his latest post underscores the volatile and unpredictable terrain of cryptocurrency markets.<\/p>\n<p data-sourcepos=\"19:1-19:523\">This stark deviation from the usual trajectory serves as a poignant reminder that even the most influential voices in the industry cannot fully control or anticipate the market&#8217;s whims and fluctuations. It highlights the inherent risks and complexities investors face as they navigate this ever-evolving landscape, where sentiments can shift swiftly, leaving even seasoned traders reeling from the abrupt changes.<\/p>\n<p data-sourcepos=\"19:1-19:523\"><em>Featured image from Pexels, chart from TradingView<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency market tends to thrive on a blend of innovation, utility, and sometimes, just a good meme. This week, the spotlight shone brightly on Dogecoin (DOGE), the Shiba Inu-themed meme coin, after a characteristically playful tweet from tech billionaire Elon Musk sent prices soaring. Related Reading: Ethereum Fire Sale? Deep-Pocketed Investor Snags Nearly 24,000 ETH At Bargain Price While the tweet itself referenced a scene from Monty Python and didn&#8217;t directly mention Dogecoin, its timing, with DOGE hovering near the cusp of the top 10 cryptocurrencies by market cap, proved to be enough to ignite a firestorm of trading activity. This latest episode serves as a stark reminder of the immense influence Musk wields over the meme coin market, and the hair-trigger reflexes of Dogecoin&#8217;s dedicated community. pic.twitter.com\/wXlbpNU97H \u2014 Elon Musk (@elonmusk) April 15, 2024 Dogecoin Rollercoaster Ride Continues This isn&#8217;t the first time Musk has sent shockwaves through the Dogecoin world. In 2021, his enthusiastic endorsements, including a now-famous appearance on Saturday Night Live where he jokingly referred to himself as the &#8220;Dogefather,&#8221; propelled DOGE to its all-time high. However, the meme coin&#8217;s meteoric rise proved unsustainable, and prices eventually settled into a lower, but still respectable, position. Bitcoin is now trading at $62.611. Chart: TradingView Currently, Dogecoin sits comfortably as the eighth-largest cryptocurrency, boasting a market cap of over $22 billion. However, there was a different narrative in the price department. At the time of writing, DOGE was trading at $0.15, down 8.4% and 22.9% in the daily and weekly timeframes, data from Coingecko shows. Clearly, the Musk tweet magic didn&#8217;t work this time. Or, perhaps not yet? DOGE 24-hour price action. Source: Coingecko A quick look at DOGE&#8217;s daily chart reveals a classic case of price resistance, where the coin struggles to break through specific price ceilings. This back-and-forth price action reflects the ongoing battle between enthusiastic buyers, emboldened by figures like Musk, and more cautious investors wary of the coin&#8217;s unpredictable nature. Related Reading: Bitcoin Bonanza Before The Halving? Analyst Sees Pre-Crash Buying Window No Price Boost This Time Elon Musk&#8217;s tweets have long been synonymous with skyrocketing memecoin values, yet today&#8217;s unexpected downturn in Dogecoin following his latest post underscores the volatile and unpredictable terrain of cryptocurrency markets. This stark deviation from the usual trajectory serves as a poignant reminder that even the most influential voices in the industry cannot fully control or anticipate the market&#8217;s whims and fluctuations. It highlights the inherent risks and complexities investors face as they navigate this ever-evolving landscape, where sentiments can shift swiftly, leaving even seasoned traders reeling from the abrupt changes. Featured image from Pexels, chart from TradingView<\/p>\n","protected":false},"author":557,"featured_media":603498,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83685],"tags":[142,7,8375,83767,4735,3505],"class_list":["post-603467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-dogecoin","tag-altcoins","tag-dogecoin","tag-elon-musk","tag-meme-coins","tag-price-action","tag-price-analysis"],"acf":[],"yoast_head":"\n<title>Elon Musk Tweet: How Much Did Dogecoin Gain From it Today?<\/title>\n<meta name=\"description\" content=\"The cryptocurrency market tends to thrive on a blend of innovation, utility, and sometimes, just a good meme. 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