Elon Musk’s tweets have brought down the value of Dogecoin cryptocurrency
American entrepreneur, founder of Tesla and SpaceX, Elon Musk, after calling on Twitter for large owners of the Dogecoin cryptocurrency to sell some of their coins, “dropped” the cryptocurrency rate. This is on Monday, February 15, according to data from the CoinMarketCap cryptocurrency rating tracking service.
According to the service, the cryptocurrency created in 2013 in honor of the Internet meme Doge with a dog of the Shiba Inu breed, against the background of Musk’s tweets, fell by 14%, to 5.6 cents.
Last Monday, Dogecoin hit an all-time high at 8.4 cents.
On February 14, Elon Musk appealed to large holders of the Dogecoin cryptocurrency to sell most of their savings in order to avoid concentration of funds.
“If the big Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real problem, I think, ” he wrote on Twitter.
At the beginning of February, the 11th-ranked Dogecoin rose by a record 780%. Another jump in the price occurred after the publication on February 4 by Elon Musk on his Twitter of the word Doge in response to the picture with the Falcon 9 launch vehicle. The price of the cryptocurrency at the moment increased by 76%.
On January 29, it became known that as a result of the rapid growth of the Dogecoin token (DOGE), traders suffered losses of more than $300 million per day. The tendency to eliminate the token rate is due to its colossal fluctuations. Back on January 28, its price was less than $0.008, and the next day it set a new historical high of $0.087.