The fall of DOGE despite the support of Elon Musk

03.06.2022

Altcoin DOGE started the week with a drop of 9.5% to 0.14 per coin. Such a decline, despite the support of the main fan of the mem-coin, Tesla CEO Elon Musk, signals that his opinion will soon cease to influence the price of this cryptocurrency.

Elon Musk became Twitter’s largest shareholder last week after acquiring a 9.2 percent stake in the social network. On April 11, it became known that he would not join the board of directors, and Twitter shares fell in price by 1% at the opening of trading in the United States.

DOGE also fell, although Musk immediately after the news of the purchase of shares offered to accept dogecoin as payment for special Twitter services.