{"id":4404,"date":"2022-07-07T08:50:39","date_gmt":"2022-07-07T08:50:39","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2022\/07\/07\/major-elon-musk-announcement-fails-to-spur-dogecoin-rally-heres-why\/"},"modified":"2022-07-07T08:50:39","modified_gmt":"2022-07-07T08:50:39","slug":"major-elon-musk-announcement-fails-to-spur-dogecoin-rally-heres-why","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2022\/07\/07\/major-elon-musk-announcement-fails-to-spur-dogecoin-rally-heres-why\/","title":{"rendered":"Major Elon Musk Announcement Fails To Spur Dogecoin Rally, Here\u2019s why"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<p>\n<iframe loading=\"lazy\" src=\"https:\/\/coingape.com\/major-elon-musk-announcement-fails-to-spur-dogecoin-rally-heres-why\/about:blank\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\" data-rocket-lazyload=\"fitvidscompatible\" data-lazy-src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\"><br \/>\n<\/iframe><noscript><iframe loading=\"lazy\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=320x100;setID=508113;type=iframe;click=CLICK_MACRO_PLACEHOLDER\" width=\"320\" height=\"100\" marginwidth=\"0\" marginheight=\"0\" hspace=\"0\" vspace=\"0\" frameborder=\"0\" scrolling=\"no\"><br \/>\n<\/iframe><\/noscript>\n<\/p>\n<p><span style=\"font-weight: 400;\">Elon Musk\u2019s Boring Company introduced that they are going to <a href=\"https:\/\/edition.cnn.com\/2022\/07\/06\/business\/boring-company-dogecoin-vegas\/index.html\">accept Dogecoin($DOGE)<\/a> as fee for rides on Loop, its Las Vegas transit system.\u00a0<\/span><\/p>\n<div class=\"quads-location quads-ad90952 \" id=\"quads-ad90952\" style=\"float:none;margin:0px 0 0px 0;text-align:center;padding:0px 0 0px 0;\">\n<a href=\"https:\/\/servedbyadbutler.com\/go2\/;ID=180936;size=647x80;setID=509734\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" width=\"647\" height=\"80\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=647x80;setID=509734;type=img;click=CLICK_MACRO_PLACEHOLDER\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/servedbyadbutler.com\/adserve\/;ID=180936;size=647x80;setID=509734;type=img;click=CLICK_MACRO_PLACEHOLDER\" width=\"647\" height=\"80\"\/><\/noscript><\/a>\n<\/div>\n<p><span style=\"font-weight: 400;\">Replying to the CNN article in regards to the announcement, Elon Musk <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1544743525585141761\">tweeted<\/a> his assist for Doge wherever doable. Despite Musk\u2019s public assist of the meme coin, Doge skilled solely a modest\u00a0 3% surge to a worth of $0.06924. Even this surge was short-lived as the worth fell to $0.06818, with a internet worth enhance of lower than a p.c over the past 24 hours.\u00a0<\/span><\/p>\n<h2><b>Elon Musk\u2019s History Of Dogecoin Support<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Elon Musk\u2019s public assist of Dogecoin began on April 2nd, 2019, when he tweeted that Dogecoin may be his favourite cryptocurrency. Since then, Musk has made a <a href=\"https:\/\/www.thestreet.com\/crypto\/bitcoin\/elon-musk-bitcoin-dogecoin-tweet\">series of tweets<\/a> and public feedback, reaffirming his assist for the foreign money.\u00a0<\/span><span style=\"font-weight: 400;\">His tweets about Doge are sometimes adopted by a pointy enhance in its worth. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Noticeably, when Musk\u2019s Tesla introduced that it could settle for Doge as fee for Tesla merchandise, Dogecoin\u2019s worth went up by 11%. Similarly, when Musk revealed that he wouldn&#8217;t promote his Bitcoin, Ethereum, and Doge holdings regardless of excessive inflation, Doge\u2019s worth skilled a 7% hike.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the newest occasion, Doge\u2019s worth elevated by a large 27% when Twitter\u2019s board of administrators introduced that they&#8217;d settle for Musk\u2019s deal for Twitter possession.<\/span><\/p>\n<h2><b>Is The Musk Effect Waning?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">Musk, the self-proclaimed dogefather, has pushed Doge\u2019s worth a number of occasions. However, his Boring Company\u2019s announcement to just accept Doge had solely a modest impact on its worth. It seems that Musk\u2019s assist isn\u2019t creating the identical enthusiasm. According to some, the bear market may very well be slowing Doge\u2019s rise.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There can also be proof to counsel that Musk-induced Doge rallies are short-lived and wouldn&#8217;t have a long-term influence. Doge\u2019s worth jumped by 27% following Twitter\u2019s acceptance of Musk\u2019s possession bid. However, the rally was adopted by a <a href=\"https:\/\/fortune.com\/2022\/04\/26\/dogecoin-down-elon-musk-twitter-crypto\/\">significant slide<\/a>, which left Doge at a rise of solely 11% for these 24 hours. Similarly, whereas Boring Company\u2019s announcement elevated Doge\u2019s worth by 3%, it got here again sharply to solely underneath a p.c enhance for the final 24 hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Musk additionally just lately made feedback stating that he by no means requested anybody to spend money on the meme coin himself. The feedback got here in response to a lawsuit that sued Musk for $258 billion, labeling Musk\u2019s assist of Doge as participating in a <a href=\"https:\/\/coingape.com\/breaking-musk-faces-lawsuit-over-alleged-dogecoin-fraud\/\">pyramid scheme<\/a>.<\/span><\/p>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA116646\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<p>\nNidhish is a know-how fanatic, whose intention is to seek out elegant technical options to resolve a few of society&#8217;s largest points. He is a agency believer of decentralization and needs to work on the mainstream adoption of Blockchain. He can also be huge into virtually each widespread sports activities and likes to converse on all kinds of matters.\n<\/p>\n<\/div>\n<div class=\"author_Image\">\n<img loading=\"lazy\" decoding=\"async\" alt=\"\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\" src=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=60&amp;d=mm&amp;r=g\"\/><noscript><img loading=\"lazy\" decoding=\"async\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=60&amp;d=mm&amp;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/d975e208df56193cc717ebd3d7e2419e?s=120&amp;d=mm&amp;r=g 2x\" class=\"avatar avatar-60 photo\" height=\"60\" width=\"60\"\/><\/noscript> <\/div>\n<\/div>\n<\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD116646\">\n<p> The introduced content material could embody the private opinion of the creator and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The creator or the publication doesn&#8217;t maintain any duty to your private monetary loss.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coingape.com\/major-elon-musk-announcement-fails-to-spur-dogecoin-rally-heres-why\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Elon Musk\u2019s Boring Company introduced that they are going to accept Dogecoin($DOGE) as fee for rides on Loop, its Las Vegas transit system.\u00a0 Replying to the CNN article in regards to the announcement, Elon Musk tweeted his assist for Doge wherever doable. Despite Musk\u2019s public assist of the meme coin, Doge skilled solely a [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[14],"tags":[1728,191,151,1397,168,566,152,439,2904],"class_list":["post-4404","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-altcoin","tag-announcement","tag-dogecoin","tag-elon","tag-fails","tag-heres","tag-major","tag-musk","tag-rally","tag-spur","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/4404","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=4404"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/4404\/revisions"}],"predecessor-version":[{"id":4405,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/4404\/revisions\/4405"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/4406"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=4404"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=4404"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-jso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