Dogecoin

After Tesla (NASDAQ: <a href="https://finbold.com/stock/tesla-tsla/" rel="noopener noreferrer nofollow">TSLA</a>) and Twitter (NYSE: <a href="https://finbold.com/stock/twitter-stock-twtr/" rel="noopener noreferrer nofollow">TWTR</a>) CEO Elon Musk randomly changed the legacy blue bird Twitter icon to that of Dogecoin (<a href="https://finbold.com/cryptocurrency/dogecoin/" rel="noopener noreferrer nofollow">DOGE</a>), upon which the meme coin’s price skyrocketed, a Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) purist has accused him of intentionally pumping the price of <a href="https://finbold.com/topic/dogecoin/" rel="noopener noreferrer nofollow">Dogecoin</a> for his own goals.Specifically, popular <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> maximalist Jimmy Song believes that Musk’s recent change of the Twitter icon to the DOGE logo was a ploy to settle his <a href="https://finbold.com/guides/finance/" rel="noopener noreferrer nofollow">financial</a> obligations after acquiring the social media network and not just a show of support for the asset, according to Song’s Twitter <a href="https://twitter.com/jimmysong/status/1643046692013604866" rel="noopener noreferrer nofollow">post</a> published on April 4.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/a3ac0cce53e54b22a1ae3910060a67e1.PNG" />Tweet by &#64;Jimmysong. Source: <a href="https://twitter.com/jimmysong/status/1643046692013604866" rel="noopener noreferrer nofollow">Twitter.com</a><h2 id="header-0">The Elon Musk effect</h2>Indeed, the price of Dogecoin <a href="https://finbold.com/dogecoin-skyrockets-after-musk-randomly-changes-twitter-icon-to-dogecoin/" rel="noopener noreferrer nofollow">climbed sharply</a> on April 3, soaring more than 22% in a matter of minutes after the unexpected logo change in the Twitter user dashboard, while approximately $1.7 billion had pumped into the digital asset’s market capitalization, bringing it to the highest level since December 2022.As a reminder, Musk has been an avid supporter of Dogecoin for quite some time, his interest dating back to early 2021 when he simply tweeted ‘Doge’ and posted a meme featuring the DOGE logo, causing the value of the <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> to soar by over 50%.<h2 id="header-1">Dogecoin price analysis</h2>As things stand, Dogecoin has managed to retain the price acquired at the time of the icon update, currently changing hands at the price of $0.10, down 2.97% on the day but still recording significant gains of 30.37% across the previous week and 28.94% over the past 30 days, according to the latest charts retrieved on April 5.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2a6ea7c5959647edb8d6776ed6292d80.png" />Dogecoin 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/dogecoin/" rel="noopener noreferrer nofollow">Finbold</a>Meanwhile, the machine learning algorithms at the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> tracking platform PricePredictions are optimistic as well, having projected that the price of DOGE on April 30, 2023, would amount to $0.103899, as Finbold <a href="https://finbold.com/machine-learning-algorithm-sets-dogecoin-price-for-april-30-2023/" rel="noopener noreferrer nofollow">reported</a> earlier. At press time, these predictions are slightly less <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullish</a>, setting the possible price of Dogecoin at $0.102147 for the same date.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow">Finbold.com</a>.

Elon Musk accused of pumping DOGE to settle Twitter debt

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