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Breaking: Dogecoin price drops 5% minutes after Elon Musk’s Twitter restores its bird logo

Breaking: Dogecoin price drops 5% minutes after Elon Musk’s Twitter restores its bird logo
FXStreet TeamFXStreet TeamFXStreet

Dogecoin price (DOGE) has dropped after Twitter pulled down the Shiba Inu dog logo and resumed its bird use.

DOGE is down almost 8% in the last 24 hours, with the 1-day chart indicating the possibility of a prolonged downtrend that could see the altcoin resume its April 2 lows before another leg down. Notably, this is the largest percentage decrease since March 9, when the altcoin dropped 10.80%.

DOGE/USDT 1-day chart

Twitter’s move to restore its original logo has showcased a typical ‘pump and dump’ scenario for the dog-themed coin, causing it to shed more than 50% of the ground covered on April 3. More details to come on Elon Musk’s latest decision.

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FXStreet Team

Composed of a group of economic journalists and FX experts, the FXStreet content team produces and oversees all content published on FXStreet. It provides a purely journalistic approach to the Forex market.

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