Dogecoin is on the mend after the accident that occurred last Wednesday. And it's still Tesla CEO Elon Musk who launches another cryptic tweet about the cryptocurrency meme.
A survey to which they responded en masse
DOGE, the volatile cryptocurrency meme that continues to defy all odds of quotation, was recovering from heavy losses after yet another cryptic tweet from Musk, who has been playing with the canine-themed digital token for more than a month.
"How much is that Doge at the window?" Musk tweeted Thursday morning next to a photo of Tesla's upcoming Cybertruck with the word "Cyberviking" decorated in neon.
In 23 minutes, the tweet received nearly 60.000 likes, garnered more than 14.500 re-tweets, and generated nearly 17.000 comments.
The tweet follows an extensive carnage in the cryptocurrency market, which on Wednesday saw Bitcoin drop by as much as 50% from its recent all-time high. Dogecoin, a so-called "meme" digital currency that is not supported by any platform such as blockchain, has also plummeted.
Bitcoin's price rebounded on Wednesday after Musk indicated his electric vehicle company could hold its billion-dollar position in Bitcoin. On the last check, Bitcoin was up 2,32% to $ 39.982. Etherum fell 2,94% to $ 2682,57 while Dogecoin fell 2,63% to 38,6 cents.
Musk has morphed into Bitcoin's proverbial Pied Piper and the more general Wizard of Crypto Oz, shifting the cryptocurrency markets, rightly or wrongly, with his tweets and comments.
Dogecoin grew last week and then quickly collapsed after Musk asked his 53,9 million Twitter followers if Tesla should accept cryptocurrency originally intended as a joke, as a form of payment. The poll got more than 3,9 million votes, with nearly 80% thumbs up.
This follows a collapse of the Dogecoin after Musk jokingly called cryptocurrency a "hustle" during one of his skits on "Saturday Night Live." It recovered its losses and then Monday, amid renewed optimism that it could be used as a payment method.
Musk the most loved / hated of the moment?
Musk, whose criticisms of bitcoin's energy use along with a suggestion that Tesla could sell its $ 1,5 billion in stakes it acquired earlier this year, helped skew the digital currency.
However, the carnage quickly receded after yet another tweet from Musk that included so-called diamond hands emojis, images that are typically interpreted as indications of a "lock" strategy for key assets. Bitcoin is back up 37,43% from the start of the year, while Ethereum is up more than 262%.
Truth be told, Musk who is wreaking havoc in the cryptocurrency market and not amusing those in the crypto community.
Bitcoin enthusiast, author and entrepreneur, Timothy Kim responded to one of Musk's many tweets, calling him the "most hated person in the world right now".