Elon Musk’s latest DOGE price pump continues on and the altcoin is still up by 40% after TikTok users pumped it a few weeks earlier. In our latest DOGE news, we take a closer look at the price analysis.
The altcoin’s value surged and despite the dump, the coin is still up. The price of the most expensive meme out there, Dogecoin is still going strong one week after Elon Musk’s latest DOGE pump on twitter weeks after it was pumped by TikTok users. DOGE, the intended joke cryptocurrency is now worth $0.003229 according to Coinmarketcap data, while before the pumps the price was set at $0.002305.
It’s inevitable pic.twitter.com/eBKnQm6QyF
— Elon Musk (@elonmusk) July 18, 2020
Dogecoin’s price increased on July 7 after a popular TikTok video emerged and told viewers to invest $25 in Dogecoin in an effort to pump the value of the coin to $1:
“Let’s all get rich! Dogecoin is practically worthless. There are 800 million TikTok users. Invest just $25. Once it hits one dollar, you’ll have ten grand. Tell everyone you know.”
The clip was endorsed by the YouTuber Jake Paul who caused the altcoin to surge by 96% in one day. However, the dumps came later and the price got to $0.002953. Then came Elon Musk, the Tesla CEO tweeted about the coin and his tweet comprised of a meme about Dogecoin dominating the financial system, and right after the tweet, the price spiked by 18% in less than an hour. The coin fell in price again but Musk wasn’t finished. The next day he continued to boost the coin on Twitter asking if it was really “a valid form of currency” before deleting his tweet. Dogecoin’s price increased by 8% to $0.003738 in half an hour before dropping by 3.5%. Since then, DOGE’s price gradually fell but it remains higher than it was a week ago all thanks to the eccentric investors going higher than it was before the TikTok pump.
The coin might not maintain the peaks but it will increase by about 40% compared to the previous pump fortunes. This is not the first time that Musk hyped the meme-inspired cryptocurrency as he previously called himself the CEO of Dogecoin and said it was his favorite digital asset. Whether his statements can be taken seriously or not, Doge’s creator said that the coin was never supposed to be worth that much since it was created to poke fun for altcoins that are currently in existence.
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