Dogecoin Daily: Elon Musk Tweets About Meme Coin Again

Dogecoin Daily: Elon Musk Tweets About Meme Coin Again

Dogecoin DOGE/USD traded 0.4% lower at $0.078 over 24 hours leading up to Friday morning.

DOGE fell lower with other major coins as the global cryptocurrency market cap declined 0.9% to $1.2 trillion.

Dogecoin Price Performance
Time-frame % Change (+/-)
24-hour -0.4%
24-hour against Bitcoin  0.14%
24-hour against Ethereum 2.87%
7-day -7.9%
30-day -42.97%

YTD performance

-54.3%

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The DOGE Factors

  • DOGE was not among the most mentioned coins on Twitter, according to Cointrendz data.
  • The 24-hour trading volume for DOGE rose to $662 million, according to CoinMarketCap.
  • Coinglass data indicated that $1.2 million worth of DOGE was liquidated as the price of the meme coin declined.
  • DOGE’s relative strength index was at 31.3, which means the cryptocurrency is on the precipice of being oversold.

Altcoins Exhibit Weakness 

Altcoins were seen under pressure earlier on Thursday evening even as other risk assets such as stocks rose. The apex coin, although trading in the red, was relatively stable compared to altcoins such as Ethereum and DOGE. 

DOGE Around The Web

Tesla Inc TSLA CEO Elon Musk said the use of the word “billionaire” as a “pejorative” is morally wrong and dumb if the underlying reason for wealth is “building products that make millions of people happy.”

Fellow DOGE-bull David Gokhshtein responded by saying “Trillionaire sounds better.”

Musk came back at Gokhshtein with a witty retort saying, “Dogecoin Trillionaire, the Movie.”

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Posted In: dogecoinMeme CoinsCryptocurrencyNewsMarkets

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