Dogecoin (DOGE) prices rose on July 1 after another appraisal from Tesla CEO Elon Musk on Twitter.
The billionaire founder posted a tweet at about 8:43 a.m – a specific Godfather-themed memoir starring Marlon Marlon Brando’s iconic character, Don Vito Corleone, following with the text “YOU COME TO ME AT RUNTIME TO TELL ME THE CODE YOU ARE RUNNING DOES NOT COMPILE.”
Meanwhile, Musk also captioned the tweet as “Release the Doge!”
And after that Elon Musk again tweet ironically about DogeCoin.
Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.
While these actions had significant effects as in the next two hours, the DOGE / USD tried to recover the intraday high of $0.261 on the musk factor, but the gainers overcame their upward bias as shown by the big minute-candle bullish wicks in the upper head.
However, Dogecoin was down nearly 0.5% at UTC at noon, indicating that Musk’s impact on the cryptocurrency market was declining.
Unlike earlier this year, when Tesla CEO Dogcoin’s wholehearted approval led to a massive retail-led price hike, with the cryptocurrency market cap reaching nearly $100 billion at the start of may month.
In the current scenario, the pair is worth half of its value as that of two months ago, solely due to a significant correction in the crypto market which had its effect on almost all top-cap assets, including Bitcoin (BTC), Ether (ETH) and XRP – crash by more than 50% as well. Altcoins, such as dogecoin, and the others that are usually synchronized with bitcoin.
When Dogecoin logs in on small inverting pumps, one of its copyrighted meme coins, the Baby DogeCoin (BABYDOGE), rises well after the 9:24 a.m. UTC tweet.
The value of the Baby DogeCoin before the Musk tweet was approximately $0.00000001, but since then it has risen more than 35%. However, the value of the main coin is so low that even the coin market cap cannot be estimated. While by the time this article was published, its market cap was zero.
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