DOGE and Musk: A Maturing Meme Coin Market

Elon Musk tweeted that DOGE could help solve the U.S. immigration issues.

There was a time when celebrity mentions sent meme coin prices soaring. But this time, DOGE actually dropped right after Musk’s post.

It seems traders:

• tried to figure out how DOGE could address immigration issues,
• found no connection,
• concluded Musk was grasping for ways to justify DOGE,
• and went short.

In reality, DOGE’s decline just followed the overall market trend, not Musk’s tweet. Meanwhile, there’s still a solid case for meme coins.

Because meme coins aren’t taken as seriously, transactions involving them don’t face as much scrutiny from tracking services as those with BTC, ETH, and especially USDT. That makes meme coins useful for transfers with less oversight.

DOGE remains one of the most reliable options here. In fact, the lack of a price spike after Musk’s tweet shows that DOGE’s market is actually maturing.

Swap any crypto for DOGE at the best rates on rabbit.io.