Dogecoin plummets 30% after meteoric rise

SRC

After an impressive explosion of almost 400% in seven days, Dogecoin's price started to fall this Saturday (17th). Doge has a reputation for being a volatile cryptocurrency - tweets from Tesla CEO Elon Musk raised the price of DOGE by 40% over the course of an hour earlier this year - a phenomenon that some analysts call the Elon Musk Effect. Dogecoin's most recent rise began on April 9, when its price was worth six cents. In the next eight days, it exploded more than six times, to the point of 39 cents, although its price has dropped to a current $ 0.27.