A series of new “dog coins” launched on Nov 1 after billionaire Elon Musk posted a naughty tweet on Twitter. That tweet shows an image of a Shiba Inu dog, the mascot of Dogecoin. In the photo, the dog is looking back at the camera, over its shoulder, wearing a Twitter shirt and sitting next to a pumpkin also with the Twitter symbol on it.
Elon Musk’s post made Dogecoin price continue to climb and hit a new high at $0.158, the highest level since April 26, 2022. Since the end of October, DOGE has jumped 163%.
The reason, as Cryptory.net reported, Elon Musk completed the $44 billion deal to own Twitter at the end of October. The DOGE community hopes that this billionaire will integrate this meme coin into Twitter as a payment option because Musk’s other companies, such as Space X, Tesla, Boring Company, and Burnt Perfume, accepted DOGE payments for their products and services.
According to Peckshield’s statistics, about 169 projects created with trending names like HalloweenDoge, DogeTwitter, DogeElonClub, DogeX, etc. Most of them were launched on Ethereum and BNB Chain – the two blockchains with the most rug pulls.
Most of the shitcoins then fell sharply because of the lack of liquidity and transaction volume. In which, 67 tokens dropped by more than 90%, and 45 projects dumped 100%.
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