• Elon Musk sent out a tweet with the caption „High time I confessed I let the Doge out.“ which caused Dogecoin and Shiba Inu prices to rise.
• A Blockchain Research Lab study showed that after each of Musk’s 47 tweets, there was an average price range of 3 percent.
• The 24-hour move of Dogecoin was within the ranges of $0.0832 and $0.0872, however it could not test its key resistance level before retracing.

Dogecoin Pumped After Elon Musk Tweet

Elon Musk sent Dogecoin and Shiba Inu prices rising when he posted a Tweet with the caption „High time I confessed I let the Doge out,“ leading many investors to believe his interest in the meme coin. Following this, Dogecoin rose by 6.6 percent and Shiba Inu by 2.5 percent in the last 24 hours.

Blockchain Research Lab Study

A Blockchain Research Lab study revealed that after each of Elon Musk’s 47 tweets, there was an average price range of 3 percent. It also noted that whenever there is an immediate and large spike in price, there will be another 45-minute price spike following it.

24 Hour Move & Resistance Level

The 24-hour move of Dogecoin has been within the ranges of $0.0832 and $0.0872 but it has not yet been able to reach its key resistance level at $0.09 before retracing back down again from its peak value since Musk’s tweet announcement earlier today 22 February 2023..

Twitter Feature?

Some users believe that Musks tweet may have just been referring to a new feature introduced on Twitter rather than expressing any form of interest in DOGE itself, but he still managed to trigger speculations amongst investors for both DOGE and SHIB tokens alike regardless!

Conclusion

In conclusion, Elon Musks influence over crypto investors is undeniable as evidenced by numerous studies conducted on his moves impacting cryptos like Dogecoin (DOGE) and Shiba Inu (SHIB). Despite being uncertain whether or not his recent tweet was related to a twitter feature or genuine enthusiasm for DOGE/SHIB tokens, his presence alone is enough to cause surges in their respective prices!