A lesser-known dog-themed memecoin has erupted over the last week as Bitcoin (BTC) and the broader crypto market continue to show signs of recovery. The altcoin Baby Doge (BABYDOGE) soared from a seven-day low of $0.000000001468 to a high of $0.000000003443 – representing a massive 134% increase. The memecoin launched in the summer of 2021 […]
The post Shiba Inu and Dogecoin Rival Explodes 134% in Just One Week As Bitcoin Leads Crypto Market Resurgence appeared first on The Daily Hodl.
Business magnate and Tesla CEO Elon Musk is once again tweeting about meme crypto asset Dogecoin (DOGE), sending its price soaring. The billionaire tells his 71 million Twitter subscribers that if fast-food titan McDonald’s accepts DOGE as payment for its products, he will consume a Happy Meal on television. “I will eat a happy meal […]
The post Billionaire Elon Musk Sends Dogecoin (DOGE) Surging As Whales Gobble Up Dog-Themed Crypto Assets appeared first on The Daily Hodl.
Following the hype surrounding dogecoin, shiba inu, and then baby doge, another token called daddy doge (DADDYDOGE) has been gathering steam. The coin saw some interest after Elon Musk said the words “daddy doge” in a video of Tesla’s CEO being escorted to a car. Furthermore, the developers of the Daddy Doge project claim the […]
While dogecoin and the ERC20 token shiba inu have surprised the masses with phenomenal gains this year, another dog token has entered the fray. A coin project called “Baby Doge” has risen 228.3% during the last 24 hours and even more so after Tesla’s CEO Elon Musk tweeted about the crypto asset. Another Canine Crypto […]
Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge.
Dogecoin (DOGE) prices surged but did not skyrocket after receiving another endorsement from Tesla CEO Elon Musk on Twitter on July 1.
The billionaire entrepreneur published a tweet at around 8:43 am UTC — a Godfather-themed meme that shows Marlon Brando's iconic character, Don Vito Corleone, with the text "YOU COME TO ME AT RUNTIME TO TELL ME THE CODE YOU ARE RUNNING DOES NOT COMPILE."
Meanwhile, Musk captioned the tweet "Release the Doge!"
Release the Doge! pic.twitter.com/9bXCWQLIhu
— Elon Musk (@elonmusk) July 1, 2021
Seconds after the tweet was posted, the DOGE/USD exchange rate surged from $0.24 to $0.261 — about 8.42%. A sell-off followed suit, which took the pair as low as $0.247. Just then, at 9:24 am UTC, Musk tweeted another gibbering message that read "Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge, doo, doo, doo, doo, doo, Baby Doge."
Baby Doge, doo, doo, doo, doo, doo,
— Elon Musk (@elonmusk) July 1, 2021
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge
DOGE/USD rose 5.22% to $0.260 after the second tweet.
In the next couple of hours, DOGE/USD attempted to reclaim the intraday high of $0.261 on the Musk factor, but profit-takers kept offsetting their upside bias, as shown via the large minute-candle bullish wicks in the chart above.
Nevertheless, Dogecoin was still down by almost 0.5% around 12:00 pm UTC, hinting that Musk's influence on the cryptocurrency market is in decline.
Earlier this year, the Tesla CEO's whole-hearted endorsement of Dogecoin caused massive retail-led price spikes, so much so that the cryptocurrency's market cap peaked at almost $100 billion in early May.
Even Elon tweeting about Doge doesn't work anymore
— Joe Weisenthal (@TheStalwart) July 1, 2021
At the time, the DOGE/USD exchange rate surged to its record high of $0.76.
The pair is now worth half of its value two months ago, primarily due to a significant crypto market correction that saw almost all the top-cap assets — including Bitcoin (BTC), Ether (ETH) and XRP — crash by more than 50% as well. Altcoins such as Dogecoin typically trade in sync with Bitcoin.
damn it.
— NFTeddy (@TeddyCleps) July 1, 2021
not even @elonmusk can pump doge anymore.
we are all going to die poor are we. pic.twitter.com/JBVbFx3oFD
While Dogecoin logged brief upside pumps, one of its copycat memecoins, Baby Doge Coin (BABYDOGE), climbed sharply after Musk's 9:24 am UTC tweet.
Baby Doge Coin was worth around $0.00000001 before Musk's tweet but surged by more than 35% later. Nevertheless, the memecoin's value remained too low for even CoinMarketCap to calculate. Its market cap was also zero as of the time of publication.
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