Elon Musk's Favored Dogecoin Briefly Became 8th-Largest Crypto, But Then This Happened
Portfolio Pulse from Ananya Gairola
Dogecoin (CRYPTO: DOGE) briefly became the world's eighth-largest cryptocurrency after its value rose by more than 10% in a single day. However, the price began to dwindle, causing it to slip back to the ninth position. The surge in Dogecoin's price might be linked to rumors about its potential inclusion in Tesla Inc.’s (NASDAQ:TSLA) payment page source code.
July 22, 2023 | 7:55 am
News sentiment analysis
Sort by:
Descending
NEUTRAL IMPACT
Dogecoin's value rose by more than 10% in a single day, briefly making it the world's eighth-largest cryptocurrency. However, the price began to dwindle, causing it to slip back to the ninth position.
The news directly pertains to Dogecoin and its price movements. The short-term impact is neutral as the price surge was followed by a decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Rumors about Dogecoin's potential inclusion in Tesla's payment page source code might have caused the surge in Dogecoin's price. Tesla previously accepted Bitcoin as a payment option but later discontinued it.
The news about Dogecoin's price surge due to rumors about its potential inclusion in Tesla's payment page source code might have an indirect impact on Tesla's stock. However, it's uncertain how significant this impact might be in the short term.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70