Doge Spikes With Musk Tweet

Twitter ($TWTR@US) is a powerful tool that can cause a seismic shift in the cryptocurrency market. This was never more apparent than when Elon Musk brought up the price of Dogecoin with a simple tweet. Coindesk published and socialized a story about Ehtereum, and Musk responded to the tweet with: “Dooooooge”. That was all it took to bring up the price of the token, allowing it to trade 1.2% higher over the last 24 hours, reaching 21.7 cents. This adds to DOGE’s year-to-date gain of 3527.7%. The tweet also offers a boost to a token that lost 24.17% in 90 days and 24.17 in just the last 30 days. Benzinga’s Melanie Schaffer also notes that traders should watch out for Dogecoin, looking at whether it can jump past Tuesday’s high of 22.8 cents, as this would indicate a trend change.