Dogecoin Pumps 6.6% as Elon Musk Tweets About Letting the Doge Out
• Elon Musk’s recent tweet about Dogecoin and Shiba Inu caused a surge in their prices.
• A study by Blockchain Research Lab found that after 47 events related to Musk, there was an average 3 percent price range increase.
• Dogecoin’s 24-hour move has been between $0.0832 and $0.0872, with no major breakthroughs yet.
Elon Musk’s Influence on Crypto Prices
Elon Musk’s tweets have been linked to several price surges of Dogecoin (Doge) and Shiba Inu coins recently. After his latest tweet, “High time I confessed I let the Doge out”, Dogecoin saw a 6.6% increase in its value while Shiba Inu rose by 2.5%.
Blockchain Research Lab Study
A study conducted by Blockchain Research Lab analyzed the effects of Elon Musk’s moves on cryptocurrency prices across 47 events related to him. The study found that the average price range increased by 3% following each event related to Musk. It was also observed that whenever there was an immediate large spike in price, there was another 45-minute price spike soon after it as well.
Dogecoin Performance After Elon’s Tweet
Dogecoin responded positively to Elon’s tweet with a 6.6% surge in its value within the last 24 hours. Its 24-hour movement stayed within the range of $0.0832 and $0.0872 without any major breakthroughs or testing of key resistance levels such as $0.09 before experiencing its first retracement as indicated on its chart data analysis tool as well as other platforms tracking cryptocurrency performance over time like CoinMarketCap and CryptoCompare among others..
Twitter Feature Launch?
Some users have speculated that this tweet may have been referencing some new feature introduced by Twitter CEO Jack Dorsey recently where people will get notifications if they liked or replied to tweets with Community Notes attached since they provide extra context which people might otherwise miss out on when scrolling quickly through their feed instead of reading each post thoroughly before liking/replying/retweeting it etcetera..
In conclusion, Elon Musk has shown considerable influence over investors as far as cryptocurrency prices are concerned with every one of his moves resulting in an immediate reaction from markets around the world including those involving both Dogecoin and Shiba Inu tokens specifically following his most recent tweet about them both rising significantly within just 24 hours despite not breaking any key resistance levels yet before leveling off slightly afterwards due to speculations surrounding some new Twitter feature launch possibly being referenced by him instead perhaps?