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Elon Musk’s latest strive and pump Dogecoin fails miserably

Minute one Doge, doo, doo, doo, doo, doo, Minute one Doge, doo, doo, doo, doo, doo, Minute one Doge, doo, doo, doo, doo, doo, Minute one Doge.

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Elon Musk's latest attempt to pump Dogecoin fails miserably

Dogecoin (DOGE) costs surged but did no longer skyrocket after receiving every other endorsement from Elon Musk on Twitter this Thursday morning.

The billionaire entrepreneur revealed a tweet at around 0843 UTC—a Godfather meme that showed Marlon Brando’s iconic persona, Don Vito Corleone, with a textual deliver that read, “YOU COME TO ME AT RUNTIME TO TELL ME THE CODE YOU ARE RUNNING DOES NOT COMPILE.”

Meanwhile, Musk captioned the tweet, writing “Free up the Doge” with an exclamation impress.

Free up the Doge! pic.twitter.com/9bXCWQLIhu

— Elon Musk (@elonmusk) July 1, 2021

Seconds into the tweet, the DOGE/USD alternate price surged from $0.24 to $0.261—about 8.42%. A promote-off followed stagger neatly with, which took the pair as dinky as $0.247. Appropriate then, at 0924 UTC, Musk tweeted every other gibbering Dogecoin message, which read “Minute one Doge, doo, doo, doo, doo, doo, Minute one Doge, doo, doo, doo, doo, doo, Minute one Doge, doo, doo, doo, doo, doo, Minute one Doge.”

Minute one Doge, doo, doo, doo, doo, doo,

Minute one Doge, doo, doo, doo, doo, doo,

Minute one Doge, doo, doo, doo, doo, doo,

Minute one Doge

— Elon Musk (@elonmusk) July 1, 2021

DOGE/USD rose 5.22% to 0.260 after the 2nd tweet.

DOGE impress 1-minute candle chart. Offer: TradingView

In the subsequent couple of hours, DOGE/USD tried to reclaim the intraday excessive of $0.261 on Musk ingredient, but earnings-takers saved offsetting their upside bias, as proven by the utilization of the fair appropriate minute-candle bullish wicks in the chart above.

Nonetheless, Dogecoin became once quiet down by nearly 0.5% around the London noon session Thursday, hinting that Musk’s affect on the cryptocurrency market has been in decline.

Earlier this year, the Tesla CEO’s entire-hearted endorsement of Dogecoin had ended in extensive retail-led impress spikes, insomuch that the cryptocurrency’s market cap peaked at nearly $100 billion in early Could well per chance per chance.

Even Elon tweeting about Doge doesn’t work anymore

— Joe Weisenthal (@TheStalwart) July 1, 2021

Meanwhile, the DOGE/USD alternate price surged to its file excessive of $0.76.

The pair is now price half of of its fee two months in the past, primarily attributable to a significant crypto market correction that noticed nearly the full high-cap assets, including Bitcoin (BTC), Ether (ETH), and XRP, crashing by bigger than 50% as neatly. Altcoins equivalent to Dogecoin most incessantly alternate in sync with Bitcoin.

— NFTeddy (@TeddyCleps) July 1, 2021

Minute one Doge booms, in the intervening time

Whereas Dogecoin logged rapid upside pumps, its copycat meme token, dubbed as Minute one Doge, climbed sharply after Musk’s 0924 UTC tweet.

Minute one Doge’s impress is too low to calculate

Minute one Doge became once price around $0.00000001 earlier than Musk’s tweet but surged by bigger than 35% later. Nonetheless, the meme token’s fee remained too low even for CoinMarketCap to calculate. Its market cap became once also zero at press time.

The views and opinions expressed here are fully those of the creator and enact no longer basically mirror the views of Cointelegraph.com. Every investment and buying and selling mosey involves possibility, you ought to habits your accept be taught when making a choice.

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