According to CoinMarketCap, the price of Dogecoin has dropped more than 11% in the last 24 hours. The meme cryptocurrency is now on the verge of breaking out of the top 10, after Tesla CEO Elon Musk wiped out the lion’s share of earnings. The cryptocurrency currently has a market cap of $18.9 billion.
As we previously reported, Dogecoin has soared last Monday after Musk finalized a $44 billion buyout deal with social media giant Twitter. The tech giant’s favorite cryptocurrency is expected to play a prominent role on Twitter. Musk even came up with the idea of allowing Twitter Blue subscribers to pay with the help of DOGE. On top of that, the meme claimed it would be “nice” to make it possible to send tips with the help of cryptocurrency.
The Twitter deal itself was bullshit for Dogecoin, but that’s over. Musk has yet to take the reins of the influential social media platform.
Dogecoin has fallen by 11.7% in the last 24 hours at the time of writing. The cryptocurrency was trading at $0.143116.
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