In 2021, Elon Musk's posts triggered significant volatility in the cryptocurrency market. The sharp decline in the preceding BTC bull market was also linked to his social media activity. Musk has once again emerged, causing mixed reactions regarding both rises and falls in the cryptocurrency context.
Elon Musk and Dogecoin
Just minutes ago, Elon Musk posted a message, and simply adding the word 'DOGE' to his tweet was enough to attract attention. This humorous billionaire shared a photo with his three dogs, including a Shiba Inu, and jokingly asked, 'Who let the DOGE out?'
Despite the noise surrounding his tweet, DOGE seems to have not reacted strongly, hovering around the $0.33 mark just minutes after posting. The fact that Musk's tweet didn't even trigger a 1% increase emphasizes the reality that the 'good old days' of quick market reactions may be over.
Typically, such posts would cause a spike in DOGE, SHIB, FLOKI, and other meme coins. Meanwhile, BTC is hovering around $98,760 and may need to break through the $99,500 mark to initiate a broader altcoin rally.