Elon Musk의 Doge에 대한 트윗은 즉각적인 열풍을 일으켰습니다.

Elon Musk’s recent tweet influenced Dogecoin’s price volatility.

Elon Musk의 최근 트윗은 Dogecoin의 가격 변동성에 영향을 미쳤습니다.

The Memecoin market undergoes a bearish season with sluggish price movements.

Elon Musk, the CEO of Tesla and owner of Twitter, has a playful habit of occasionally expressing his fondness for memecoins. On a recent Wednesday, he continued this trend by tweeting about the popular dog-themed cryptocurrency, Dogecoin (DOGE), which resulted in a sudden 4% price jump within just a few minutes.

Doges ftw pic.twitter.com/bl0trQ7BdU
— Elon Musk (@elonmusk) July 19, 2023
Doges ftw pic.twitter.com/bl0trQ7BdU— Elon Musk(@elonmusk) 2023년 7월 19일

However, the effect seemed short-lived, as the price ($0.072) quickly went back down to its previous level ($0.0697). This led some to wonder if the “Elon Effect” was weakening, especially compared to a previous incident in Q2 of 2023. It is when Elon musk DOGE tweet accepted it as payment and the conversion of the Twitter logo to the Dogecoin logo caused it to surge significantly.

Elon Musk DOGE tweet provided some relief from a bearish trend, but the DOGE price remains distant from the all-time high of the month. Whereas the trading volume of it stands at $420,620,838, representing a 43.78% increase.

Elon Musk DOGE 트윗은 약세 추세에서 어느 정도 안도감을 주었지만 DOGE 가격은 이달의 사상 최고치와는 거리가 멀습니다. 거래량은 $420,620,838로 43.78% 증가했습니다.

Is it a Memecoin “Bearish” Season ?

Currently, the memecoin market appears to be experiencing a bearish season. At the start of 2023, they were on a green zone trend. Moving forward, today, alongside the DogeCoin, its siblings like Pepe, Shiba Inu, and Floki struggled to initiate a bullish rally and break free from the bearish zone or flat price movement.

현재 밈코인 시장은 하락세를 겪고 있는 것으로 보입니다. 2023년 초에는 그린존 트렌드에 있었습니다. 오늘날 DogeCoin과 함께 Pepe, Shiba Inu 및 Floki와 같은 형제들은 강세 랠리를 시작하고 약세 영역 또는 고정 가격 움직임에서 벗어나기 위해 고군분투했습니다.

For instance, PEPE‘s value surged only by 4.73% in the past seven days, with the current price standing at $0.0000015 after a 1.17% decline today. Similarly, SHIB is priced at $0.000008, witnessing a substantial 92% decrease from its all-time high, with a 2.61% drop in trading volume. Meanwhile, FLOKI experienced a 2% decline over the week, with the current price at $0.000024, representing a 1.78% decrease in the past 24 hours and a trading volume decline of 11.81%.

Analyzing the factors behind the memecoin red forest, sources reveal that as the memecoin is crowding up with the entry of new coins and its copycat version pulls them out of the green zone.

밈코인 붉은 숲의 원인을 분석한 소식통에 따르면 밈코인이 새로운 코인의 유입으로 붐비고 모방 버전이 이를 녹색 영역에서 끌어내는 것으로 나타났습니다.

Summing up , the recent movements in the memecoin market suggest a bearish trend. However, the market remains unpredictable, and the influence of figures like Elon Musk on cryptocurrency prices continues to be a subject of debate among investors and enthusiasts alike.

요약하면, 최근 memecoin 시장의 움직임은 약세 추세를 시사합니다. 그러나 시장은 여전히 예측할 수 없으며 Elon Musk와 같은 인물이 암호화폐 가격에 미치는 영향은 투자자와 애호가들 사이에서 계속해서 논쟁의 대상이 되고 있습니다.