After for a while Elon Musk took a short break from uploading comments on Twitter about crypto, Musk today re-uploaded humorous words in his latest post. Although the tweet this time mentioned "Doge" but the crypto failed to react as expected.
Aside from his views on bitcoin, this Tesla CEO has shown his support for Dogecoin before. So much so that it triggered a ‘meme coin’ phenomenon and managed to push the price up to $ 0.74 per doge and even became the fourth largest crypto in terms of market capitalization.
However, the market correction and the slackening interest in the crypto caused the price of DOGE to fall 67% from the ATH level recorded in April.
A handful of desperate investors continued to put pressure on Musk to publicly express back support for DOGE in the hope that Dogecoin prices could bounce back.
Musk is back today with the latest post calling Baby Doge, doo, doo, doo, doo.
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
This is interpreted by the market referring to the crypto Baby Doge coin. After the second tweet, the price of Baby Doge Coin increased almost 90% in a matter of minutes. So far, the coin is trading at $ 0.000000001937, which means a weekly increase of more than 700%.
After the babydoge price spike it was only 5% less than the all -time highest price.
