Elon Musk, the owner of Tesla and SpaceX, has proved once again that he can influence the crypto market with just his tweets.
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| image by The dial |
Dogecoin's price jumped up to 7% on July 1st due to two tweets by Elon Musk. At the same time, the price of Bitcoin and Ethereum also declined.
Main reason for price fluctuation
A few days ago Elon said that his company Tesla would not accept payments with bitcoin due to environmental problems. Elon announced to accept payments from Dogecoin in SpaceX. Due to this, the price of Dogecoin has seen a fluctuating since the last few days.
price after Elon's tweets
According to data from CoinMarketCap, Dogecoin, which was earlier trading at $0.24, jumped to $0.2573 after Elon Musk's tweet. Dogecoin has a trading volume of $2,762,760,820 in the last 24 hours (1 July)
Bitcion has trading at $34,810 and Ethereum has trading $2,280 in first July.
today all cryptocurrencies price - click here
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| image by google.com |
Musk's tweets are a big reason behind the current rally in Dogecoin's price. The world's largest cryptocurrency has touched a low due to two tweets while Dogecoin has jumped up to seven percent. The SpaceX CEO has tweeted several times in support of Dogecoin over the past few days.
Dogecoin's value surge after Musk's tweet came after social media users said the billionaire is still able to influence the cryptocurrency's rate. Even before this, Musk has created panic in the stock market with his comments on Twitter.
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