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

[sapnu]

We can see clearly how much influence Elon Musk has towards crypto enthusiasts. Dogecoin is nothing compared to bitcoin actually but ever since Elon Musk took custody of being the father of Doge, the value has increased a lot. He can influence those who doesn't read much about crypto considering that he is a billionaire. Most of the people will believe on him since they think that if they will do the same thing Elon is doing, they will get a shot on becoming a millionaire too but little do they know, Elon is deceiving them so that he can feed on them more so be more wise next time.

[Cling18]

He isn't influential as before and his tweets don't matter to most users this time. I think people have seen that he's just trying to manipulate the market. It's a good thing that users are wiser now and they learned how to ignore his tweets unlike before. As for me, we shouldn't let Elon Musk manipulate the market by ignoring his statements about Doge or other coins.

[Pamadar]

We can see clearly how much influence Elon Musk has towards crypto enthusiasts. Dogecoin is nothing compared to bitcoin actually but ever since Elon Musk took custody of being the father of Doge, the value has increased a lot. He can influence those who doesn't read much about crypto considering that he is a billionaire. Most of the people will believe on him since they think that if they will do the same thing Elon is doing, they will get a shot on becoming a millionaire too but little do they know, Elon is deceiving them so that he can feed on them more so be more wise next time.

Badly true!  those who don't read much and just  following him for being billionaire,

most of the time they are the victims for believing that this guy will change their lives positively, unknowingly that they've been use

as channel to earned more, his intention was clear, he just wanted to make more money by using portions of his wealth. Creating
slight pump then dump once there are traders follows his trapped.

[kizlod]

He's losing he's influence and it's good. People are tired of his manipulations and more people are starting to understand this.

[apa don]

Elon has the power to influence the kids of this generation. They think elon is the messiah in crypto and they follow what ever hype message he posted. Sooner or later, people will get trap in DOGE and they will only realize once its too late that their feelings has been played by elon.

Yes, very true, but it's not all a cruel game from Elon Musk. and look at the development now when Elon musk pushes Dogecoin in cryptocurrency up 7%, and try to think whether Elon musk is detrimental to other people? Of course not, because the development of Dogecoin is now slowly rising in cryptocurrency.
Elon Musk's followers will not be disappointed.

[Similificator]

Seriously, I am very annoyed with how this guy is playing with the market right now. His casual trolling gets dozens of people rekt and even if we say a billion times that people should only invest what they can afford to lose, some people would still gamble specially those that have too little to none knowledge about how this industry works. In desperate times, making foolish decisions can easily happen. And when it does, there's just no more turning back. Although people who invests blindly are at fault, they do not deserve to be fcked over like this, it is just disgusting. And I even used to be a big fan of this guy because of his great accomplishments, but now, I unfollowed him on twitter.

[wxa7115]

Two tweets by Tesla and SpaceX founder Elon Musk drove the value of Dogecoin up by seven percent on July 1. On the other hand, two other cryptocurrencies - Bitcoin and Ether - traded lower.

Dogecoin, after trading below $0.24 in the early hours of trading, surged to $0.2573 after Musk's tweets, as per the data shared by CoinMarketCap. The 24-hour trading volume was stated as $2,762,760,820, by the time this report was published.

Read more https://www.moneycontrol.com/news/business/cryptocurrency/elon-musks-two-tweets-on-dogecoin-drives-value-of-cryptocurrency-up-by-7-7114361.html


Elon Elon Elon, are we still going to ignore how much influence this lad has on dogecoin and the crypto ecosystem in general?

I still feel the damage that was done on crypto(bitcoin) because of the elon tweets about the carbon footprint can be undone if we can find cleaner ways of mining...and he will be the first to blow the horn for damage control.

It is undeniable that he still has a lot of influence but can you see what is happening? Now the market moved only 7% when it moved a lot more during his previous tweets, this also means that people are putting less attention to him and this is a welcome change.

And this is just the beginning, soon enough his influence will drop even more as people are going to see that his comments do not move the market as much as before creating a vicious circle, now he will always have some level of influence but I am glad that we are finally seeing a drop on it.

Now this could be caused because a great deal of weak hands have left the market and only those that have the stronger hands remain, which means that if the conformation of the market changes once again we could see his influnce surging again.

[jatin729]

It is totally against the market interest because he is manipulating the prices and people like us losing their money. We are looking for long-term support for what he is doing like manipulating some investors to invest in doge/shiba inu. No doubt we can earn some profits but still crypto is volatile and one tweet can ruin the whole profits. so be careful.

[john_nautica]

Elon Musk’s affects the coin and the market because of the people that is willingly letting themselves be influence, manipulated in such an extreme, to follow his steps. But if only these individuals would realize how much damage that this has been done prior and is currently doing to the market and the people, then these who are willingly getting influenced would be wiser what and who to follow, hopefully.

[wxa7115]

It is totally against the market interest because he is manipulating the prices and people like us losing their money. We are looking for long-term support for what he is doing like manipulating some investors to invest in doge/shiba inu. No doubt we can earn some profits but still crypto is volatile and one tweet can ruin the whole profits. so be careful.

indeed Elon's influence on the crypto market is still very much felt, and this causes anger for people who are harmed by what Elon did, but on the other hand for people who have the ability to read situations and manipulate Elon, he can benefit when he is able to determine when to enter and out of it, from myself I still don't dare to follow Elon's game because the shadow of the losses caused I still can't understand if it happens to me.

There is still some strong level of influence coming from Elon Musk but people need to understand that he only has the power they allow him to have over them, if people stop listening to him then he will be unable to move the markets with a few tweets, which is why his influence has diminished greatly as he has being identified as a market manipulator.

But enough people are still following his every word because they want to obtain profits, things got so bad that at some point someone decided to make a bot which traded based on the tweets of Elon Musk, which means that most likely the influence he has over this market is going to remain for a long time.

[isaac_clarke22]

~

Bah. Seems like another guy or like that neighbor next door that would just talk random things about Bitcoin.
It is his followers that are blind and continues to just get "hyped" by his tweets.
Doge was just like a simple meme, and it was never meant to be anything serious.

[sammy21]

Currently Elon's influence is very large especially on novice investors, and they think that Elon is the perfect person to follow so what Elon writes will create hype in the near future, but that will end if they have realized that they are only being played by Elon for the sake of its own profit, not purely to advance crypto.

[so98nn]

You can see, by how much percentage changes with his tweet.

IMO, the trust from the crypto community to Elon already not really have high expectations due we already know he was shilling 2 tokens/coins ($DOGE & $SHIBA). And one more thing, with his Ken Inutweet about the energy mining the reason at that day make crypto market collapse. Almost cryptocurrency community right now is pissed off with him, only in the matter of time the community will not gonna listed anymore.

Let's not judge the stuff yet. I am also one of the guy who lost huge money because of Elon's influence and obviously I loaded the bag of DOGE because of him at different entry points starting from lowest to highest price of DOGE.
I am still keeping the DOGE stash as it is, because: its huge quantity, and most importantly Elon's promise to launch the SpaceX shuttle with DOGE payment in first quarter of 2022. Now many people would say that it could be just hoax to pump the market when he was doing it early this year, but it can't be if it related to his dreams and billion dollar project. I am keeping it as a chance to grow OR else I am keeping it as my experience if nothing happens in 2022.

[Bay_Harbour_Butcher]

I'm confused why there are still many people who listen to what Elon has to say, because I think Elon is very inconsistent with what he says, his actions and words are very inappropriate.

[pawanjain]

7% is like nothing in the crypto community. Although I know that the point is about how people start buying as soon as Elon makes a tweet, I think Elon is losing his influence over the crypto market.
Since the dump of bitcoin, many people started blaming him and criticizing him and this gave him a bad reputation in the crypto community.
Over a period of time I think people will start realizing their mistakes and then his influence will completely vanish from the crypto community.

[leetcoiner]

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.

[wxa7115]

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.

What is interesting to know is why this is the case? If it is because of what you state and people are deciding to think on their own then this would be great as the level of influence of Elon Musk over this market will remain low for some time.

However if this is not the case and this has to do with the fact that the newbies that were part of the market lost all of that money, then the next time there is a bull run and we have more newbies in the market the influence of Elon Musk could make a comeback as those newbies will make the same mistakes as the current newbies, and despite our warnings they will not listen to us as we are a bunch of nobodies compared to Elon Musk.

[leetcoiner]

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.

Investors saw how this kind of hype will result in a lot of losses from newbie investors who just want to follow influencers on their decision to invest, it's not too late for Musk he can still redeem himself by getting informed and stop creating FUD on the market particularly on Bitcoin, he will have a meeting with Dorsey I hope he will redeem himself.

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.

[bitkanu]

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.

It seems like that people are using their brain. So many people didn't wanna to buy the shitty coin again after the dump that happened with bitcoin. Musk was focusing with bitcoin now and it looks like doge gets abandoned again. Bitcoin was the real coin and people must leave the shitty pump and dump meme coins.

[Bitcoinjheta]

I think 7% is quite exaggerating. We should consider the increase of bitcoin at a time since elon musk is just going with the flow. Most people are not easily fooled anymore by his tweet that he is the one contributing to the market but its way of lossing funds out of it.