Dogecoin (DOGE) had experienced a brief period of rise after replacing the Twitter logo a few days ago, which had caused its price to rise 37% in the process. However, this rise was short-lived as the original blue bird took its place on the social network, mechanically causing the price of DOGE to fall.
The DOGE is back down after a brief burst
The recent rise in Dogecoin (DOGE) will have been short-lived. The memecoin recently saw itself replace the Twitter logo on the blue bird social network, causing its price to rise 37% almost instantly.
The change, which seems to be more of a joke than anything else, ended today. The original logo of the social network with 240 million users and finally returned, and the price of the DOGE is thus back down:
Evolution of the Dogecoin price since the beginning of April
Thus, after touching $0.10, the price of DOGE has finally fallen back to $0.0825 as of this writing. A price higher than the one before the implementation of DOGE on Twitter, but which nevertheless underlines the volatility of this type of altcoin.
A volatility that will have been highlighted by many people on Twitter, who did not fail to qualify this as a new market manipulation by the CEO of Tesla and SpaceX.
The timing chosen by Elon Musk for this little joke is also rather curious, as the billionaire recently asked for the withdrawal of the $258 billion complaint against him, which had been filed precisely for market manipulation on Dogecoin.
Memecoin, which still sits in 8th place on the podium of the most capitalized cryptocurrencies on the market, is however sailing a long way from its high price of $0.7 reached on May 8, 2021, which is a drop of over 88% since then.
