• Elon Musk recently caused a 6.6 percent surge in the price of Dogecoin with his tweet
• According to Blockchain Research Lab, there has been an average of 3 percent increase on each of the 47 events after a tweet by Musk
• Shiba Inu also saw a 2.5 percent increase due to Musk’s mention of „dogs“ in the plural
Elon Musk Sends Dogecoin Price Surging
Twitter CEO Elon Musk sent Dogecoin (Doge) prices soaring after his tweets triggered speculations among investors. On February 22nd, he posted a statement that was believed to be an apparent joke: „High time I confessed I let the Doge out.“ This was accompanied by an image with the inscription „It was me, I let the dogs out.“ The post caused a 6.6 percent immediate surge in Dogecoin prices and Shiba Inu by 2.5 percent as well.
Musk’s Influence on Crypto Markets
A study conducted by Blockchain Research Lab showed that Elon Musk has considerable influence on crypto markets and investors. The study revealed that there was a price range of about 3 percent on average for each of the 47 events after one of his tweets were made public. It also suggested that whenever there is an immediate and large spike in prices, there is another 45-minute price spike following it as well.
Dogecoin 24-Hour Price Movement
The 24-hour movement of Dogecoin was within the ranges of $0.0832 and $0.0872 prior to Elon Musks‘ tweet announcement and subsequent price surges seen in both coins – Dogecoin and Shiba Inu respectively. Despite this, however, it could not test its key resistance level at $0.09 before recording its first retracement as seen in its chart display over time according to market data analysis reports from CoinMarketCap and other sources related to crypto asset trading information.
Community Notes Twitter Feature
Some users believe that Elon Musks‘ tweet may have been referring to some new feature introduced by Community Notes on Twitter – which allows users to get heads up if any Community Note starts showing up on their Liked or Retweeted Tweets so they can have extra context regarding the topics being discussed if needed or required for further understanding according to Community Notes‘ official website page description about their new feature addition update for twitter users who are logged into their accounts online/mobile app version platform services subscription plans as part of their overall user experience framework protocols packages agreement terms & conditions listed under their privacy policies guidelines & regulations copyright laws usage rules etc..
Elon Musks‘ influence over crypto markets is undeniable at this point with studies showing how his moves have impacted crypto prices over time – especially when it comes down to Dogecoin (DOGE) & Shiba Inu (SHIB). With his recent tweet causing a 6.6% increase in DOGE & 2.5% increase for SHIB – it can be concluded that he does indeed hold considerable power when it comes down to these two cryptos specifically although further analysis needs to be undertaken before making any definite conclusions about such matters concerning cryptocurrency investments speculation activities trends forecast estimations etc..