• Elon Musk’s tweet sent Dogecoin and Shiba Inu prices surging.
• A Blockchain Research Lab study showed that Musk had an interesting command over investors and caused a price range of 3 percent on average.
• Following Musk’s latest tweet, Dogecoin experienced a 6.6 percent increase while Shiba Inu surged 2.5 percent.
Elon Musk’s Influence On Dogecoin Price
Twitter CEO Elon Musk has been linked to several price surges of Dogecoin (Doge) after his tweets triggered speculations among investors. Following the latest tweet from Musk, the meme coin enjoyed a 6.6 percent rise in value with Shiba Inu also rising by 2.5 percent in the last 24 hours.
Blockchain Research Lab Study
A study conducted by the Blockchain Research Lab found that there was a price range of about 3 percent on average for each of the 47 events after a tweet by Musk. This shows that there is an interesting command over investors as soon as he posts something on Twitter related to cryptocurrencies like Doge or Shiba Inu coins.
Community Notes Tweet
The Community Notes Twitter account posted prior to Elon’s tweet that they would give people extra context if they replied, liked or retweeted something with the new feature they introduced today – which may have been what prompted Musk’s post about “letting dogs out”.
24-Hour Move Of Dogecoin
The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0