Elon Musk's Potential Repeat Of Dogecoin Move Prompts Crypto Analyst To Say, 'In Before He Runs It Back'
Portfolio Pulse from Benzinga Neuro
Crypto analyst Kaleo highlighted a potential repeat by Elon Musk of last year's move that significantly boosted Dogecoin's (DOGE) value around April Fool's Day. Musk had changed the Twitter (now X) logo to Dogecoin, causing a surge in its price. Despite Musk's silence on Dogecoin this year, speculation is rife about a possible repeat. Dogecoin, known as a pioneer meme coin, has seen a 125% increase since the start of 2024, with a 42.6% gain over the last 30 days.
April 02, 2024 | 2:36 am
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Elon Musk's potential repeat of last year's Dogecoin-promoting action could significantly impact DOGE's price, as seen by last year's surge. DOGE has already seen a 125% increase since the start of 2024.
Given Elon Musk's history of influencing Dogecoin's price with his actions and statements, a repeat of last year's event could lead to another significant price movement. The anticipation and speculation alone, as seen in the community's response, may drive short-term price action.
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