Forex in this article
Elon Musk sends Dogecoin downwards
The Tesla boss caused a sensation in the cryptocurrency community with a tweet on Twitter. “When big Dogecoin owners sell most of their coins, I fully support that. Too much concentration is the only real problem in my eyes,” said the billionaire.
The cryptocurrency has risen by around 13 percent since the tweet on Sunday evening.
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Musk is not innocent of the price level of Dogecoin
It is thanks in particular to Elon Musk that the Dogecoin only made its way into the price regions where it is currently traded. In a series of tweets, he suggested his support for the coin, which was originally launched as a fun currency. Also on Reddit in the subgroup SatoshiStreetBets there were simultaneous calls to buy Dogecoin.
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As a result, the currency, which had cost less than a US cent for quite some time, was worth almost $ 0.08 at its peak, an almost eightfold increase in value in a very short time.
Finanzen.net editorial team
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Price slump crypto market pushed dropped Elon Musk price slump Dogecoin message