Elon Musk and his latest move on Twitter have once again created shock waves in the cryptocurrency market. By adding a simple “D” next to the “X” in the location section, Musk managed to ignite a nearly 10 percent increase in Dogecoin (DOGE) prices. Also, the altcoin named X(X) experienced a meteoric rise. Here are the details…
Elon Musk move affected the market
Hinting at the upcoming changes on Twitter, the tech king had hinted at problems with the letter “X”. Their cryptic messages have caused the crypto community to be awash with speculation about what he has in hand. True to his reputation as the “Dogefather”, Elon Musk’s latest Twitter move has resulted in a significant boost for the popular meme-based cryptocurrency DOGE. Recently, Ripple (XRP) has been dominating the crypto market, but its momentum has faced a major setback with the SEC litigation being halted and public statements by influential figures against the cryptocurrency. As a result, some of the trading volume in XRP quickly shifted to DOGE, adding to its upward trajectory.
Even at a time when the value of Bitcoin (BTC) was falling, DOGE managed to continue its growth thanks in part to its solid foundation and strong technical analysis. The “Musk effect” once again highlighted the power that the billionaire’s words and actions have over the crypto market. Interestingly, the rise of DOGE has created renewed interest and hope among its supporters. Memecoin enthusiasts and investors are eagerly awaiting potential DOGE-related add-ons on the new platform following Musk’s Twitter name change announcement. Following Elon Musk’s Twitter profile change, another cryptocurrency simply called “X” has seen an astronomical 2,300 percent increase. This increase has caught the attention of investors and analysts, and has led many in the industry to wonder what this might mean for the future of both DOGE and “X”.
Will DOGE continue to rise?
Despite the increased volatility in the DOGE market, many crypto enthusiasts remain optimistic about the potential for further earnings. With Elon Musk’s continued involvement and growing interest in meme-based coins, DOGE’s journey in the crypto space is far from over. As the crypto market continues to evolve and adapt to the influence of key figures like Elon Musk, it is crucial for investors to stay up to date with breaking news and developments. As a result, the “Musk effect” is reappearing, as Elon Musk’s addition of the letter “D” to his Twitter profile significantly affects the value of Dogecoin. As DOGE continues to make headlines and attract the attention of investors worldwide, the future of the meme-based coin remains the subject of intense interest and speculation in the ever-evolving cryptocurrency landscape.
