Elon Musk still influences DOGE’s price as the coin increased 10% after his comments on Twitter again as we can see more in our latest dogecoin news.
The billionaire, Elon Musk still influences DOGE’s price as the cryptocurrency spiked again by 10% overnight, seemingly he hasn’t forgotten about the coin as some feared. DOGE spiked more than 10% after Msk updated his Twitter picture to show that he still supports the cryptocurrency. His new profile picture is a headshot of him with DOGE reflections on his sunglasses similar to one of the Bitcoin laser eyes memes which were extremely popular. The single-action from the Tesla CEO saw the picture of the meme-coin move from $0.18 to $0.202 overnight but then it retraced and is now trading at $0.183.
DOGE is down more than 75% from its ATH of $0.7376 recorded in May. The huge drop forced desperate investors to ask the billionaire for help to boost the price upwards by tweeting something positive about the coin that he did a few times in the past. However, Tesla’s CEO kept a low profile until he was ready to do this thing earlier this month. Musk tweeted about Baby Doge as one of the DOGE copycats and within minutes, the price of the coin gained 90%. From Musk’s endorsement, the newly launched meme coin started off quite well. NASCAR even went as far on to brand the Baby Doge symbol on its cars.
In the meantime, Doge’s co-founder Jackson Palmer was not happy with the crypto industry lately despite his status in the space. He started a controversial discussion on Twitter that stirred up different reactions. The co-founder believes that almost everything is wrong with crypto right now including decentralization. He sees crypto as a right-wing tool that will give more profits to the wealthy without any government restrictions. According to Palmer, money is always political and decentralization is an illusion.
As recently reported, The man who founded DOGE, launched an attack on the entire cryptosystem. Jackson Palmer left Dogecoin in 2015 but his most recent comments show that he is probably not coming back to crypto ever because the DOGE creator said that crypto preys on the financially desperate and it is among the worst parts of today’s capitalist system. Palmer who founded Dogecoin in 2013 with his partner Billy Markus before selling all of his coins, announced that he wants nothing to do more with the crypto space.
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