Elon Musk's two tweets on Dogecoin drive value of cryptocurrency up by 7%

[TelolettOm]

Does it mean that the power of Elon Musk still is great here? Ahaha
we know that many followers and fans of Elon still believe in whatever he says and the media is always making it big. That will always give influence to the coin or token that he tweets.
As it happens to Dogecoin where several times getting tweets from him and it becomes a big hype, pump so high only in a short time.

[ziyaaa]

He indicated that he owned DOGE yesterday in the live event with Jack Dorsey. He said it like he of course made an investment into DOGE. These statements can be really enough for affecting the price a little but not too much. I wonder what he will do when he loses his influence on the price completely. Then, he will be no different than a regular investor as his words won't be affective at all.

[kawetsriyanto]

investors who are very experienced in the crypto space will always ignore meme coins, because they can't be fooled by meme coin developers

Not only experienced investors, even newbies who can think smart, probably avoid buying meme coins. There are already many discussions spread out in this forum that discussing the harm or risk of meme coins. That should be a warning for all members to not trying to invest in meme coins. But for those who are always greedy and think instant profits, they may buy meme coins.

[llecrf]

it has many times and yesterday when Elon Musk wore a Bitcoin t-shirt, the price of Bitcoin and altcoins he tweeted rose slowly, there are many people who are still following Elon Musk's tweet trend, I don't understand what they are thinking, but as I know, Elon is a crypto Investor and he has a lot of followers on his twetter account, I also hope Tesla will accept Bitcoin and other altcoin payments too so the price will increase by more than 7%

[Brus123]

I like that Elon Musk's tweets no longer have the same impact on the market as they did before.
All the same, people begin to think with their own heads and are less and less led by this kind of hype. And this is good, there will be less losses for unknown reasons.

To my mind, Elon Musk now sees on his own that people at last figured it out that he just manipulates the prices to benefit by himself. Without any fundamental reasons for it, prices of Dogecoin pump several times due to Elon Musk’s tweets, so he decided to use it as a tool for earning, but now price doesn't react so significantly. So it is pointless for him now to try to pump the price of Dogecoin again by his tweets.

[OcTradism]

Not only experienced investors, even newbies who can think smart, probably avoid buying meme coins. There are already many discussions spread out in this forum that discussing the harm or risk of meme coins. That should be a warning for all members to not trying to invest in meme coins. But for those who are always greedy and think instant profits, they may buy meme coins.

Newbies do like this. They say meme coins are risky, reject to buy meme coins with cheap price but they will buy it when they see big green candles. They are scare with cheap price but are brave with expensive price.

Experienced investors can buy meme tokens or not but if they buy, they will buy those tokens very early or only buy when price of those tokens have serious corrections.

To my mind, Elon Musk now sees on his own that people at last figured it out that he just manipulates the prices to benefit by himself. Without any fundamental reasons for it, prices of Dogecoin pump several times due to Elon Musk’s tweets, so he decided to use it as a tool for earning, but now price doesn't react so significantly. So it is pointless for him now to try to pump the price of Dogecoin again by his tweets.

Now recently but a long time ago. Years ago when Elon Musk made his first tweet about Dogecoin. It takes Elon Musk two to three years to accumulate Dogecoin and test the market with his tweets. Dogecoin was pumped with his tweets in 2019 so Elon knew that he can be a big influential person with Dogecoin.

The last year is when Elon Musk officially shown his power to manipulate the Dogecoin market.

[NewRanger]

To my mind, Elon Musk now sees on his own that people at last figured it out that he just manipulates the prices to benefit by himself. Without any fundamental reasons for it, prices of Dogecoin pump several times due to Elon Musk’s tweets, so he decided to use it as a tool for earning, but now price doesn't react so significantly. So it is pointless for him now to try to pump the price of Dogecoin again by his tweets.

after many traders rekted  now investors really carefull with every single tweet or statment from elon musk. He was proven as actor behind this market manipulation by creating fud about bitcoin mining energy and continued by another fud. I am pretty sure his position on bitcoin now floating minus and he is trying to recover market sentiment now.

[dhemasm]

after many traders rekted  now investors really carefull with every single tweet or statment from elon musk. He was proven as actor behind this market manipulation by creating fud about bitcoin mining energy and continued by another fud. I am pretty sure his position on bitcoin now floating minus and he is trying to recover market sentiment now.

Not only for trader but it's affecting the whole crypto community, Elon have an influence and power to affect the market and he really doing that before but he just throwing away that chance to gain trust from the community so as you said right now people will be more careful in the future especially any tweet from elon since we can some hidden intentions like market manipulation before.

[wxa7115]

This is pretty revealing.
Investors seeing this should realize how risky it can be to invest in the wrong coin, like meme coins, the price of which can collapse overnight.

Yes, and investors who are very experienced in the crypto space will always ignore meme coins, because they can't be fooled by meme coin developers, especially if they've made profits very often through other cryptocurrencies that are more popular than meme coins.

While it is true that someone with even a moderate experience in this market is not going to be fooled by those coins there are many newbies that will and the worst part is that once they lose their money then they are going to tell their friends and family that this market is composed of only scammers and to not adopt it.

So not only they will cost themselves all the losses they will suffer but they will cost others all the money that they could have made as they would have invested in bitcoin and other good coins instead of those meme coins which cannot be classified as scams but that are completely useless.