Cutoshi (CUTO) Presale Outshines Dogecoin (DOGE) and SUI Despite Market Dip

The past few weeks have been positive for Dogecoin (DOGE). Consequent to the success of the SpaceX launch, Dogecoin price has continued to record

Dogecoin (DOGE), a cryptocurrency that began as a meme, has seen a surge in value following a tweet by Elon Musk. According to CoinMarketCap, DOGE price increased by 13.8% on October 11. This surge comes despite a recent decline in users, with data from BitInfoCharts showing a decrease of 20,000 users over the past seven days.

Musk's tweet, which included the acronym "D.O.G.E" in reference to Dogecoin, was prompted by news that California officials had halted further rocket launches by SpaceX. In a cheeky response, Musk tweeted "D.O.G.E will fix it."

Dogecoin price surged on October 11 after Elon Musk tweeted about the cryptocurrency in response to news that California officials had halted further rocket launches by SpaceX. Musk's tweet, which included the acronym "D.O.G.E" in reference to Dogecoin, sparked a bullish reaction among traders.

The Los Angeles Times reported on October 10 that California officials had halted further rocket launches by SpaceX, pending an investigation into a recent launch that violated a county fire code. In response to this news, Musk tweeted "D.O.G.E will fix it" on October 11.

This tweet appears to have inspired a surge in buying pressure on Dogecoin, as the cryptocurrency's price rose sharply following Musk's post. At the time of writing, DOGE price is trading at $0.144, up by 13.8% over the past 24 hours.

However, despite this surge in value, DOGE price has been exhibiting a downtrend on the monthly time frame. According to data from BitInfoCharts, DOGE users have also declined by 20,000 over the past seven days.

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