Baby DOGE Skyrocketes 90% After New Elon Musk Tweets: Analysis

Baby DOGE coin saw a strong price explosion as the coin skyrocketed by 90% shortly after Elon Musk’s tweets as we can see more in our latest altcoin news today.

After a short break from his daily comments on Twitter about the crypto space, Elon Musk came back with a humorous side of the new set of intriguing posts and this time, his tweets contained the word “Doge” while the meme coin failed to increase. However, it turned out that he had another Doge in mind. Aside from his views on Bitcoin, Tesla’s CEO outlined his support for Dogecoin for months. This boosted the Shiba-Inu meme token to a sky-high of $0.75 and even became the fourth-largest digital asset. The market correction and the crashing interest towards the new craze caused major disruptions for its USD value which is 67% since the ATH charted a few months ago.

Some other investors who followed Musk blindly and other names started begging the billionaire to start engaging with Dogecoin again on social media as his previous comments resulted in immediate price increases. Tesla’s CEO kept a low profile for a while but he came back with new posts today. Although both had the word “DOGE” the meme coin price didn’t budge. It seemed that Musk was referring to another cryptocurrency by the name Baby Doge Coin and the website described it as a token that learned a few tricks and lessons from the original coin. The so-called world’s best community coin saw the light of day because of the many fans it has. DOGE indeed inspired most copycats and it seems that this one caught the attention of Elon Musk too.

Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge

— Elon Musk (@elonmusk) July 1, 2021

After the second tweet, the price of Baby DOGE spiked by 90% in a few minutes and as of now, the baby meme coin trades at $0.000000001937 which means a weekly increase of over 700%. BABYDOGE is less than 5% away from breaking its high that was marked a week ago.

As recently reported, Elon Musk has a new favorite dog meme token and this time it is the Shiba Inu coin, inspired by the same breed of dogs that Dogecoin was inspired by. Musk is quite rich and famous because he makes cards and rockets and makes jokes on Twitter which are often related to dog-themed cryptocurrencies. He is now so popular that if he posts a tweet on social media about a certain coin like DOGE, the market for the coins will immediately react.