What's Going On With Dogecoin Today?

Dogecoin DOGE/USD traded 2.27% lower at $0.25 in the early hours of Thursday after Tesla Inc TSLA CEO Elon Musk’s latest "dogz rūl" tweet.

What Happened: Musk was replying to a meme posted by a Twitter user, which tracked the evolution of dogs as companions to humans. 

DOGE, the sixth-largest cryptocurrency by market cap, is still up 6.53% for the week.

Why It Matters: Musk often tweets about DOGE, but his tweets do not always drive up the price of the Shiba Inu-themed cryptocurrency.

See Also: How To Buy Dogecoin (DOGE)

On Monday, the Tesla CEO announced that his own Shiba Inu will be named Floki. A cryptocurrency by the same name quickly emerged soon after and registered a massive surge.

Dogecoin is witnessing a slump this month, down 35%, but its year-to-date gains still stand at a whopping 4206%, as of press time.

Read Next: Telcoin, Fantom, Shiba Inu — Altcoins Seeing High Social Media Interest Today

Posted In: CryptocurrencyNewsMarketsMoversTrading IdeasdogecoinElon MuskMeme Coins
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...