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Dogecoin falls after Elon Musk rally. Memecoin risks violent correction.




Dogecoin


has continued to fall after prices jumped earlier this week, when Elon Musk’s Twitter made its homepage logo a tribute to the meme cryptocurrency. There are signs that a deeper correction may be due.

The price of Dogecoin has fallen 6% in the last 24 hours, falling for a second day after hitting

Bitcoin


to an increase of around 30% on Tuesday, when Twitter changed its home page logo to a Shiba Inu dog. Dogecoin is a so-called memecoin because it was founded as a reference to an internet joke involving a Shiba Inu dog, or “doge”[ads1];.



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