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The Memerable Market: Musk DOGE’ing Again, Lindsay Lohan Fails To Send BTC To The Moon

Bitcoin Dogecoin Elon Musk

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Last updated: June 26, 2023 06:55 EDT

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Linas Kmieliauskas

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Linas Kmieliauskas

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Last updated:

June 26, 2023 06:55 EDT

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While coronavirus ruled the markets in 2020, it seems that the meme virus is in charge this year.

As bitcoin (BTC) is playing by its playbook today – once again correcting its gains after another strong rally – a new superstar in the cryptoverse, Tesla‘s Elon Musk, is on his dogecoin (DOGE) jokes again.

“Bought some Dogecoin for lil X, so he can be a toddler hodler,” the world’s (still) richest man tweeted, sending the price of DOGE around 10% up in an hour and liquidating around USD 5m short position at the same time.

Per media reports, Musk and his wife Claire Grimes named their son X Æ A-XI.

At the time of writing (16:41 UTC), DOGE trades at USD 0.076 and is up by 13% in a day. Oh, and it’s the 10th largest cryptoasset by market capitalization again.

As reported, Tesla’s and SpaceX‘s founder said on multiple occasions that his tweets about dogecoin are meant to be jokes. And these jokes helped some traders make more money (DOGE is up by 679% in a month), while others suffered losses due to wild fluctuations.

Meanwhile, another celebrity joined the bitcoin rush today.

Lindsay Lohan, an American actress, singer, has 8.4m followers on Twitter, and if they rushed to buy BTC after this tweet, they got it with a discount.

At the time of writing, BTC trades at USD 44,662, dropping from USD 47,300 reached earlier today. The price is down by 5% in a day, trimming its weekly gains to almost 25%.
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