Dogecoin (DOGE) Cost Stirs to Life as Elon Musk Namechecks Meme Coin

Elon Musk is at it once again. The questionable owner of X released a puzzling post on the social networks platform, stating, “X is a pet and Doge friendly location!”

X is a pet & & Doge friendly location!

— Elon Musk (@elonmusk) August 23, 2023

The post is the current installation in Musk’s extremely advertised relationship with Dogecoin (DOGE).
He typically calls himself the “Dogefather” and the “Dogecoin CEO,” with his actions and words assisting to raise the meme coin’s profile in both popular culture and the monetary world.
Frequently, Musk’s DOGE-related remarks have actually triggered the coin’s cost to soar significantly.
In April of this year, prior to ultimately altering Twitter’s name to X, the Tesla CEO amazed everybody by changing its blue bird logo design for the Dogecoin Shiba Inu pet dog image.
This modification triggered the cost of DOGE to increase by 30%, demonstrating how delicate the marketplace is to what Musk does and states about the cryptocurrency.
Nevertheless, following his most current post, DOGE costs have actually just moved somewhat, getting 0.6% in the hour preceding this writing and 0.9% over the last 24 hr.

The coin has actually had a reasonably tough duration, losing 16.8% of its worth over 1 month and 10.3% in the last 7 days. After touching $0.0817 in late July, DOGE is now trading at $0.0633, with a 24-hour trading volume of $370 million.