Claim $500Dogecoin (DOGE) Rallies 8% After Elon Musk Call Its People’s Crypto
While the broader cryptocurrency market has entered strong consolidation, mem crypto Dogecoin made a strong move after Elon Musk called its people’s cryptocurrency. In his recent Tweet response, Musk explained his reason to support DOGE after calling it people’s crypto. Musk said:
Lots of people I talked to on the production lines at Tesla or building rockets at SpaceX own Doge. They aren’t financial experts or Silicon Valley technologists. That’s why I decided to support Doge – it felt like the people’s crypto.
Earlier this year in May 2021, Elon Musk also declared that it will accept payments in Dogecoin for its upcoming space missions. As per the recent survey by Finder, the United States has doubled the adoption rate of DOGE in comparison to the rest of the world. The report notes that one-third of crypto investors in the U.S. are invested in Dogecoin superseding even Bitcoin (BTC) and Ethereum (ETH).
Elon Musk has been an ardent supporter of Dogecoin (DOGE) and has shown major interest in supporting the Dogecoin ecosystem. While Dogecoin has been consolidating over the last few weeks, Shiba Inu (SHIB) has taken the lead.
Shiba Inu eyes A Spot In Top Ten Crypto List
Over the last month, Shiba Inu (SHIB) has skyrocketed over 500% while hitting an all-time high of $0.000042 on Sunday, October 24. As of press time, it is trading close to its ATH levels.
One of the Twitters users asked Elon Musk whether if he holds SHIB to which musk denied saying he holds only Dogecoin among meme cryptocurrencies. As per on-chain data provider Santiment, the crowd sentiment is currently negative for Shiba Inu, however, the meme cryptocurrency has always rallied whenever the euphoria cools off.
📈 #ShibaInu is +26% in the past 24 hours while the rest of the #crypto markets are mostly flat. The young, rising asset continues pumping eerily in tandem with moments of crowd negativity and doubtful commentary. Watch how sentiment impacts $SHIB. https://t.co/pHILpF9DFG pic.twitter.com/2hEIPXjRAp
— Santiment (@santimentfeed) October 24, 2021
Meme cryptocurrencies including DOGE and SHIB have rallied significantly this year giving multifold returns to investors. It will be interesting to see if SHIB joins DOGE in the top ten crypto-list going ahead.
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- Michael Saylor’s “Green Dots” Message Hints At Fresh Bitcoin Buying As BTC Faces $90K Wall
- Fed’s Hammack Signals No Rush to Cut Rates as January Hold Odds Near 80%
- XRP ETFs Reach $1.21B as Asset Managers See a ‘Third Path’ Beyond Bitcoin
- Nearly $50M in USDT Stolen After Address Poisoning Scam Targets Crypto Trader Wallet
- Breaking: Rep. Max Miller Unveils Crypto Tax Bill, Includes De Minimis Rules for Stablecoins
- Will Solana Price Hit $150 as Mangocueticals Partners With Cube Group on $100M SOL Treasury?
- SUI Price Forecast After Bitwise Filed for SUI ETF With U.S. SEC – Is $3 Next?
- Bitcoin Price Alarming Pattern Points to a Dip to $80k as $2.7b Options Expires Today
- Dogecoin Price Prediction Points to $0.20 Rebound as Coinbase Launches Regulated DOGE Futures
- Pi Coin Price Prediction as Expert Warns Bitcoin May Hit $70k After BoJ Rate Hike
- Cardano Price Outlook: Will the NIGHT Token Demand Surge Trigger a Rebound?
