Dogecoin (DOGE) had enjoyed a brief bullish streak after replacing Twitter’s logo a few days ago, sending its price up 37% in the process. However, this increase was only short-lived since the original blue bird resumed its place on the social network, mechanically causing the price of DOGE to fall.
DOGE goes down again after a brief burst
The recent rise in Dogecoin (DOGE) will have been short-lived. The memecoin recently had its Twitter logo replaced on the social network at the blue bird, which had the effect of increasing its price by 37% almost instantly.
This change, which seems to be more of a joke than anything else, ended today. The original logo of the social network with 240 million users and finally returned, and the price of DOGE thus started to fall again:
Evolution of the price of Dogecoin since the beginning of April
So, after touching $0.10, the price of the DOGE finally fell back to 0.0825 dollars at the time of writing these lines. A course higher than the one preceding the implementation of DOGE on Twitter, but which nevertheless underlines the volatility of this type of altcoin.
A volatility which will have been underlined by many individuals on Twitter, who did not fail to qualify this as new market manipulation on the part of the CEO of Tesla and SpaceX.
The timing chosen by Elon Musk for this little joke is also rather curious, the billionaire having recently requested the abandonment of the complaint to 258 billion dollars against him, which had precisely been filed for market manipulation on the Dogecoin.
The memecoin, which still sits on the 8th place on the podium of the most capitalized cryptocurrencies on the markethowever, is sailing well away from its high of $0.7 hit on May 8, 2021, which is a drop of more than 88% since then.
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