Dogecoin (DOGE) noticed its value bounce by over 4% after a latest tweet from Elon Musk referencing a scene from the 1979 movie “Monty Python’s Lifetime of Brian”
In his submit, Musk humorously depicted the mainstream media as characters from the movie, struggling to maintain a straight face whereas reporting on Dogecoin’s standing among the many high ten cryptocurrencies by market capitalization. The newest nod to Dogecoin spurred a fast, although momentary, enhance in its value.
pic.twitter.com/wXlbpNU97H
— Elon Musk (@elonmusk) April 15, 2024
Dogecoin Market Response
The Dogecoin each day chart exhibits a unstable 24-hour buying and selling interval, with the value encountering resistance round $0.0165, then dipping to kind a help base close to $0.0155. After a modest restoration, it failed to interrupt the resistance once more, suggesting a consolidating market. Regardless of fluctuations, DOGE stays among the many high ten crypto belongings.
Though the surge was temporary, it demonstrated the X CTO’s impact on cryptocurrency markets. Since propelling Dogecoin into the limelight in 2021 with a number of endorsements, Musk has remained a pivotal determine in its market efficiency.
The meme coin peaked following his look on “Saturday Evening Dwell” however has since adjusted to a decrease, but nonetheless strong, market place, sustaining its rank because the eighth largest cryptocurrency with a market cap of $22.7 billion.
It bears mentioning that Musk not too long ago introduced that his social media platform, X, would begin charging a small payment for posting and liking to curb spam from bots. This has reignited hypothesis that Dogecoin could possibly be used as a type of fee for these providers. Nevertheless, this has not been confirmed.
Shiba Inu Eyes High 10
In the meantime, Shiba Inu ecosystem content material marketer Lucie reacted to the submit, hinting on the potential of Shiba Inu’s trajectory just like that of the highest 10 cryptocurrencies by market cap.
$SHIB is soooo near
— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO 🧜🏼♀️ (@LucieSHIB) April 15, 2024
For context, SHIB boasts a market cap of $12.8 billion, because it trades for $0.00002177 at press time. Shiba Inu briefly slipped into the highest 10 record final month when it recorded an enormous surge to $0.000045, overtaking Avalanche. Nevertheless, eventually examine, SHIB ranks twelfth, now under Avalanche.
