• Elon Musk Tweeted that “High time I confessed I let the Doge out.”, causing a surge in Dogecoin and Shiba Inu prices.
• According to Blockchain Research Lab’s study on the effect of Musk’s moves on crypto, each tweet caused an average price range of 3%.
• The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0.0872 without testing its key resistance level of $0.09 before retracing.
Dogecoin Pumps Hard As Musk Advertises On Twitter
Twitter CEO Elon Musk has been linked to several price surges of Dogecoin (Doge) after his tweets triggered speculations among investors. Just recently, Musk has come up with another tweet, causing a fair increase in the price of the meme coin in the last 24 hours.
Elon’s Impact On Crypto Prices
According to Blockchain Research Lab’s study on the effect of Elon Musk’s moves on cryptos discloses that he has an interesting command over investors. According to the study, there was a price range of about 3 percent on average for each of the 47 events after a tweet by Musk.
„Let The Doge Out“ Tweet
In a statement that is believed to be an apparent joke, Musk Tweeted: „High time I confessed I let the Doge out.“ There was an image attached to the post with the inscription „It was me, I let the dogs out.“ There was also a follow-up tweet where he wrote „Fact check me @CommunityNotes.“ Following this tweet, Dogecoin responded with a 6.6 percent sharp increase with Shiba Inu surging by 2.5 percent.
„High Time I Confessed“ Response
Some users believe that Musk’s tweet was a mere expression of some new feature introduced to Twitter. However, he sought to show his interest in the meme coin.
24 Hour Price Movement Of Dogecoin
The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0.0872 without testing its key resistance level before recording its first retracement as seen in its chart.