Dogecoin cryptocurrency breathless! Price drop drastically after record rally

The value of Dogecoin is once again weakening. It has again come down after touching a new high in a record rally. The price of this coin was being influenced by enthusiasts like Elon Musk. He had taken this dog theme to a new height, supporting cryptocurrency. The value of this cryptocurrency reached $ 0.45 (about 35 rupees) on 16 April.

Since then, its price has been declining. It began to fall on 21 April. The day before, Dogecoin fans celebrated Doge Day. They also used hashtags like DogeDay and DogeDay420 for this. To bring a price rise, memes, messages etc. were posted on many social media platforms. By the time of writing the news on Friday, the price of Dogecoin had come down to just Rs 16. The rise of Dogecoin, Tesla and SpaceX CEO, Elon musk Was very impressed by Their tweets had greatly increased the price of this cryptocurrency.

On 15 April, Musk tweeted a photo of a 1926 painting with the tag of Dog Barking At The Moon. It was created by Spanish Artist. Musk titled it Dog Barking At The Moon Changed from Doge barking at the moon. Whose direct reference was towards this cryptocurrency. This is why Dogecoin received the highest jump ever. But ever since its prices started to fall, Musk has not tweeted anything about it. In February, Musk’s series of tweets led to a huge increase in the price of Dogecoin. He first tweeted a photo of a rocket going towards the moon. In a tweet together, only one word was written – “Doge”

Musk posted his version of Rafiki’s Lion King image on Pride Rock holding a baby Simba. He replaced the face of the mandrill-shaman with his own face and the face of the lion’s child with the Dogecoin logo. The logo is made with the Japanese breed dog Shiba Inu.

Musk did not stop here. After that, he made two more posts related to it. He wrote- “Dogecoin is the people’s crypto,” (Dogecoin is the crypto of the public). Then he had another tweet – “No highs, no lows, only Doge”, apart from Musk, rappers Snoop Dogg and Kiss singer Gene Simmons have also supported Dogecoin. In February, Snoop Dogg tweeted a parody of one of his albums to Musk and wrote for him – ‘Snoop Doge’

Simmons told its followers in February through a tweet that they had bought a large position in Dogecoin. In another tweet, he wrote – ‘towards the moon’ (a photo was put in which Musk was shown pushing this cryptocurrency upwards).

Dogecoin was the brainchild of technical experts Billy Markus and Jackson Palmer. He started it in 2013 as a fee for traditional banking as a joke. At that time it was trading at a price of $ 0.000232 (about 0.017 rupees).<!–

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