Dogecoin (CRYPTO: DOGE) traded 2.27% decrease at $0.25 within the early hours of Thursday after Tesla Inc (NASDAQ:TSLA) CEO Elon Musk’s newest “dogz rūl” tweet.
What Occurred: Musk was replying to a meme posted by a Twitter consumer, which tracked the evolution of canines as companions to people.
Yeah, however dogz rūl
— Elon Musk (@elonmusk) July 1, 2021
DOGE, the sixth-largest cryptocurrency by market cap, continues to be up 6.53% for the week.
Why It Issues: Musk typically tweets about DOGE, however his tweets do not always drive up the value of the Shiba Inu-themed cryptocurrency.
See Additionally: How To Buy Dogecoin (DOGE)
On Monday, the Tesla CEO introduced that his personal Shiba Inu will be named Floki. A cryptocurrency by the identical identify rapidly emerged quickly after and registered an enormous surge.
Dogecoin is witnessing a droop this month, down 35%, however its year-to-date features nonetheless stand at a whopping 4206%, as of press time.
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