In 2021, Elon Musk’s posts caused significant fluctuations in the cryptocurrency market. The dramatic drop during the previous BTC bull market was also linked to his social media activity. Musk has once again emerged in the spotlight, prompting mixed reactions of both rises and falls in the crypto landscape.
Elon Musk and Dogecoin
Just minutes ago, Elon Musk made a post, and the mere inclusion of the word “DOGE” in his tweet was enough to attract attention. The playful billionaire shared a photo with his three dogs, including a Shiba Inu, and humorously asked, “Who unleashed DOGE?”
Despite the buzz surrounding his tweet, DOGE did not seem to react strongly, lingering around the $0.33 mark just minutes after the post. The fact that Musk’s tweet did not trigger even a 1% increase underscores the reality that “the old days” of swift market reactions may be behind us.
Typically, such posts would cause a surge in DOGE, SHIB, FLOKI, and other meme coins. Meanwhile, BTC is hovering at $98,760 and may need to surpass the $99,500 mark for a broader altcoin rally to commence.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
