Dogecoin on Thursday rebounded to $0.40 USD per coin after the cryptocurrency market skilled huge losses the day prior.
In keeping with Coindesk, dogecoin rose to just about $0.43 USD on Thursday morning earlier than leveling off to about $0.40 USD later within the day. The memecoin has seen an 11 p.c improve inside the previous 24 hours and presently has a market cap of about $51.6 billion USD.
Musk — who has fervently embraced dogecoin and whose tweets have traditionally sent the coin into a frenzy — referenced the digital forex in a tweet on Thursday morning.
How a lot is that Doge within the window? pic.twitter.com/bxTkWOr50V
— Elon Musk (@elonmusk) May 20, 2021
“How a lot is that Doge within the window?” he wrote.
Later in a tweet response, Musk stated he gained’t be promoting off any of his dogecoin, a comforting signal to traders amid enhanced volatility.
Yeah, I haven’t & gained’t promote any Doge
— Elon Musk (@elonmusk) May 20, 2021
Musk’s actions have additionally impacted the worth of bitcoin. Following Tesla‘s announcement that it will no longer be accepting the largest cryptocurrency as payment for its electrical autos, the coin dipped under $45,000 USD — down from a excessive of $51,000 USD final week.
On Wednesday, the coin sunk to the bottom value in months of just below $35,000 USD, in response to Coindesk, whereas dogecoin plunged to $0.30 USD.
In different information, folks pretending to be Musk on-line have made millions from the scam in recent times, in response to the Federal Trade Commission.
