Thursday, June 17, 2021

Elon Musk Making Bitcoin Price Plunge Once Again with Linkin Park Song, Compares Dogecoin to Federal Reserve

As if the previous blow on Bitcoin and crypto markets is not enough, the CEO of Tesla, Elon Musk, is once again tweeting to bring down the price of the flagship cryptocurrency, along with other cryptocurrencies in the market, including his favorite meme token, Dogecoin (DOGE).

The price of Bitcoin (BTC) plunged by relatively 5% after mentioning the lyrics of “In the End,” the chart-topping song of rock band Linkin Park.

Read Also: Elon Musk Loses World’s Second-Richest Position after losing $3.16 Billion in A Day

What Does His Meme Represent?

Elon Musk’s latest anti-Bitcoin meme is about a woman who was willing to dump her boyfriend if he quoted the band one more time before she found someone else.

In response, the man pointed out that it “didn’t even matter” in the end.

The meme could have been treated like any of his tweets if not captioned with the Bitcoin hashtag and a broken heart emoji, which indicates that Elon Musk is parting ways with the digital currency.

Read Also: Elon Musk Thinks Dogecoin (DOGE) Could Hit $1

Bitcoin (BTC) in the Market after Elon Musk’s Parting Tweet

After the tweet, the price of Bitcoin (BTC) which seemed to be in an accumulation phase for the next bull run plunged 5%. At the time of writing, BTC is trading at $36,719.89, with a 5.42% price downtrend in the last 24 hours.

With the look of things, Elon Musk seems to be catching fun with his Bitcoin manipulative tweets. Expectedly, other top cryptocurrencies in the market, including his favorite meme token, Dogecoin (DOGE), also got hit in the process.

Elon Musk Compares Dogecoin (DOGE) To United States Federal Reserve

Apart from throwing a jibe at Bitcoin (BTC), Elon Musk also boosted Dogecoin (DOGE) by comparing it to the United States Federal Reserve.

Read Also: Elon Musk: Dogecoin (DOGE) Will Become Currency of Earth with Low fees and High Volume

There have been lots of criticisms about Dogecoin’s infinite supply. In defense of the meme token, the billionaire said it’s no different from printing U.S. dollars.

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Tobi Loba
Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to satisfy her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.

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