Meme cryptocurrency Baby Doge Coin (BABYDOGE) received a price boost in the early hours of Thursday after another flurry of tweets from Tesla CEO Elon Musk. The Tesla CEO had first tweeted ”Stop gendering memes … I mean mimes” to which a Twitter follower requested ”Support Baby Doge Coin.” Another also had asked the Tesla CEO to ”talk about BabyDoge.”
Several minutes later, this was followed up by another tweet from the Tesla CEO which sounded like a lullaby:
”Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge”
Baby Doge’s price reacted to the tweets by gaining 81.3% within an hour. At the time of writing, the Baby Doge Coin was trading at $0.000000001634, up 26.2% on a 24-hour basis.
Notably, Elon Musk is well known for his PR stunts when it comes to Dogecoin, with social media posts often sparking price gains. This time around, another dog-themed token, BabyDoge is enjoying the social media hype created by the Tesla and SpaceX founder.
As stated on the BabyDoge official website ”Baby Doge Coin (BABYDOGE) is a new crypto birthed by fans & members of the Dogecoin online community”
Also ”Baby Doge Coin has learned a few tricks and lessons from his meme father, Doge. BabyDoge seeks to impress his father by showing his new improved transaction speeds & adorableness. He is hyper-deflationary with an integrated smart staking system built in to reward, so more Baby Doge Coins are being automatically added to your wallet each transaction.”
Musk’s latest round of publicity also fuelled a slight rebound in DOGE/USD price, which was up 1.30% in the last 24 hours, as of the time of writing.
The death cross is a technical chart pattern indicating the potential for a major sell-off. The death cross appears on a chart when the short-term moving average crosses below its long-term moving average. Typically, the most common moving averages used in this pattern are the 50-day and 200-day moving averages.
Bulls ignored a deadly moving average crossover on Aelf (ELF) and StormX (STMX) as both rallied 58.52% and 20.79% respectively over 24 hours to trade at $0.2889 and $0.021 as seen at press time.
ELF/USD Daily ChartAelf is a decentralized cloud computing blockchain platform that has received support from the Chinese government in afore times. On May 27, the Aelf network tweeted:
”We are pleased to announce that aelf is now officially being buttressed by the Chinese government, supporting the blockchain infrastructure of Haihe Smart Chain of Tianjin Blockchain Technology Innovation Center.”
StormX represents a mobile app and browser extension that aims to bring users cashback in crypto for most of their online purchases. At the time of writing, Bitcoin was trading down by 4.34% at $33,283 while Ethereum was marginally down at $2,119. The overall cryptocurrency market cap was down by 2.63% at $1.38T.
Image Credit: Babydogecoin.com
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