Price: $0.40964 6.0356%
Market Cap: 60.18B 1.8235%
Volume (24h): 11.92B 0.4%
Dominance: 1.8235%
Price: $0.40964 6.0356%
Market Cap: 60.18B 1.8235%
Volume (24h): 11.92B 0.4%
Dominance: 1.8235% 1.8235%
  • Price: $0.40964 6.0356%
  • Market Cap: 60.18B 1.8235%
  • Volume (24h): 11.92B 0.4%
  • Dominance: 1.8235% 1.8235%
  • Price: $0.40964 6.0356%
Home > Information news > Elon Musk’s Tweet Catapults New Meme Coin to Soaring Heights

Elon Musk’s Tweet Catapults New Meme Coin to Soaring Heights

Release: 2024/03/18 20:20 Reading: 709

Original author:BH NEWS

Original source:https://coinmarketcap.com/community/articles/65f82b76b9c76a09278ce220

Elon Musk’s Tweet Catapults New Meme Coin to Soaring Heights

You can also read this news on BH NEWS: Elon Musk’s Tweet Catapults New Meme Coin to Soaring Heights

The unpredictable social media behavior of entrepreneur Elon Musk has once again jolted the cryptocurrency market with a single post, this time on St. Patrick’s Day. Musk’s celebration tweet, adorned with an image of three dogs donning festive hats, sent Dogwifhat (WIF) soaring, reflecting an over 40% surge in its value. The digital currency, which had been experiencing a slump, rebounded from $2.06 to a peak of $3.15 by the day’s end.

Surge in Dogwifhat (WIF) Coin Value

Elon Musk’s social media posts have a well-documented history of influencing memecoin markets. His earlier tweets regarding Dogecoin have led to significant value increases for the cryptocurrency. This ripple effect also positively impacted other memecoins; Dogecoin itself saw a notable 16% recovery, while SHIB, from the Shiba Inu ecosystem, experienced a 25% jump in its value.

A Subtle yet Influential Gesture by Musk

The latest instance of Musk’s influence involved no words or explicit endorsements—only the visual of hat-wearing dogs. While the crypto community did not exhibit the same level of euphoria as in the past, the price rally of Dogwifhat indicates the market’s responsiveness to Musk’s actions. Despite the growing familiarity with his unpredictable endorsements, Musk’s sway remains a powerful force in the cryptocurrency space.

The stark impact of Musk’s social media presence on cryptocurrency valuations is increasingly apparent. Even a simple image is enough to prompt immediate and significant market movements. Investors are cautioned to remember that swift ascents in price can potentially be followed by equally rapid declines. As of this writing, Dogwifhat (WIF) is trading at $3.12.

The post first appeared on BH NEWS: Elon Musk’s Tweet Catapults New Meme Coin to Soaring Heights

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.