Has Musk lost influence over cryptocurrencies?

For the first time, Elon Musk's tweets did not affect Dogecoin. The former billionaire tweeted about Dogecoin DOGE. At this point, however, Dogecoin did not comply.

In fact, the price of Dogecoin has dropped 2% since Elon Musk's tweet.

Elon Musk is known around the world for raising dog prices with his tweets. His tweet alone supports Dogecoin's value over 20,000%.

The price of Dogecoin will rise within minutes of the impact of the tweet being announced over the past few months. This raises concerns about the internal business and makes it unprofitable.

Now Elon Musk's tweet does not change the value of Dogecoin. Elon Musk tweeted "Let the dog go", but Dogecoin hasn't changed.

On June 28, Musk tweeted about Dogecoin support backed by software engineer Ross Nicoll.

In fact, it had a slight impact on the market, although Dogecoin prices have risen slightly since the tweet.

Now Musk's latest tweet seems to have little effect on the market and the financial community may think he is having a negative impact, but without Musk's backing, Dogecoin would not achieve community prestige and recognition or the fiat recognition that it is today.

Traders may not be prepared for the next bull market, wait for the bull market late, or traders will eventually find that individual tweets shouldn't be the only priority when deciding whether or not to do so. Instead of selling crypto assets, you should take into account all the important factors when making an investment.