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Elon Musk Brings Back ‘Dogefather’ Moniker
In a move that has sent shockwaves across the cryptocurrency market, Elon Musk has once again donned his “Dogefather” persona by posting a picture of himself holding a Dogecoin sticker on social media. The post has garnered an impressive 533,000 likes and 58,000 reposts.
Musk captioned the post, “This is a real picture.” However, despite the significant engagement on his post, it seems that the market is not impressed. At the time of writing, Dogecoin (DOGE) is trading with just a 0.46% gain over the course of today’s session, significantly underperforming the rest of the altcoin market.
In comparison, the TOTAL2 index, which tracks the performance of various alternative cryptocurrencies, has surged by over 1%. This lackluster response from DOGE’s price is quite surprising given Musk’s previous impact on the coin’s value. In fact, many have speculated that his involvement in the project was responsible for its meteoric rise in the past.
Despite this, it appears as though the market has become increasingly immune to Musk’s influence. Perhaps the constant hype and speculation surrounding DOGE has led investors to adopt a more skeptical approach, or maybe the market simply doesn’t respond as readily to Musk’s antics anymore.
One thing is certain, however – the ‘Dogefather’ moniker will undoubtedly continue to be associated with Musk for the foreseeable future.
Source: u.today
