Recently Elon Musk changing his Twitter profile picture, which blue bird is replaced by the Dogecoin logo. I am not sure but it may have some impact on the cryptocurrency market, as Elon Musk is known to have significant influence over the market with his tweets and public statements. A few more statistics of Dogecoin shown that 25% of Dogecoin price is pumped up after changing and tweet of it.
However, it is important that the impact may be limited and temporary, as the cryptocurrency market is influences such kind of topics and matter and complex and affected by multiple factors, also volatile and seems be fluffy too. Additionally, the price of Dogecoin may be influenced by many other factors, such as its adoption rate, development progress, and competition from other cryptocurrencies. If you are observed market for a long time then you may seen this type of fluctuation regularly. May be i posted this article earlier but wait to watch how Doge coin moved, but now found in down trend.
Rememeber, Elon Musk is a owner and partner of several technologies sector such as space X and Tesla car. It is also worth noting that while Elon Musk's tweets have previously had an impact on the cryptocurrency market (In May 2021, SpaceX announced that it would launch the DOGE-1). But if you look into the market and found significantly difference of price chart.
Elon Musk may be collect lot’s of coin of Doge coin and release when its pass 0.10 and thus it fall once again and nothing big change after that. But all of you don’t fall in this hipped market announcement. Just do your own research and make your own decision while you are going to investment at here.
There is nothing with this Doge coin except the meme type, lots of coin supply and circulation which consistently dump the price, you can only buy while this is at its low price all time.
