{"id":338193,"date":"2023-08-25T09:00:31","date_gmt":"2023-08-25T03:30:31","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=338193"},"modified":"2023-08-25T12:19:02","modified_gmt":"2023-08-25T06:49:02","slug":"did-elon-musks-latest-move-influence-doge-shib-and-floki","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/did-elon-musks-latest-move-influence-doge-shib-and-floki\/","title":{"rendered":"Did Elon Musk&#8217;s latest move influence DOGE, SHIB, and FLOKI?\u00a0"},"content":{"rendered":"<ul>\n<li><em><span style=\"font-weight: 400;\">Elon Musk\u2019s post has, in the past, affected DOGE, SHIB, and FLOKI<\/span><\/em><\/li>\n<li><em><span style=\"font-weight: 400;\">However, despite the recent post, DOGE, SHIB, and FLOKI followed regular market trends.<\/span><\/em><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Elon Musk&#8217;s posts related to Dogecoin [DOGE] are familiar territory, and typically, his remarks influence the trajectory of dog-themed cryptocurrencies. Yet, this influence doesn&#8217;t stop at DOGE; it also stretches to similar tokens, such as Shiba Inu [SHIB] and Floki. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Can his recent post about DOGE be credited with initiating any notable shifts in the value of these tokens?<\/span><\/p>\n<h4><b>Musk on Dogecoin<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">In a recent social media update, <a href=\"https:\/\/twitter.com\/elonmusk\/status\/1694255122409234470?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">Elon Musk<\/a>, the X, formerly Twitter head, mentioned that X was a DOGE-friendly place, responding to another user&#8217;s post. Given Musk&#8217;s history of DOGE-related communications, it&#8217;s challenging to ascertain whether this was a veiled reference to the <a href=\"http:\/\/ambcrypto.com\/why-dogecoins-move-to-pos-could-end-in-a-catastrophe\/\" target=\"_blank\" rel=\"noopener\">DOGE<\/a> cryptocurrency or simply a regular statement.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Musk&#8217;s considerable influence on DOGE has led to legal actions by some <a href=\"http:\/\/ambcrypto.com\/enough-says-elon-musks-lawyer-as-dogecoin-lawsuit-escalates\/\" target=\"_blank\" rel=\"noopener\">DOGE<\/a> holders who allege his undue control and manipulation of the token&#8217;s price. Additionally, similar dog-themed tokens like Shiba Inu and Floki typically experience the impact of DOGE&#8217;s market movements. Was that the case this time?<\/span><\/p>\n<h4><b>Analyzing the DogeCoin, Shiba Inu, and Floki price trend<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Examining the daily timeframe charts of Dogecoin, Shiba Inu, and Floki on 23 August revealed a common trend of value appreciation at the close of trading. However, attributing this solely to the &#8220;Musk effect&#8221; seems implausible, given that most cryptocurrencies ended the day with gains.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Specifically, <a href=\"http:\/\/ambcrypto.com\/what-next-as-dogecoin-bulls-attempt-recovery\/\" target=\"_blank\" rel=\"noopener\">Dogecoin<\/a> rose over 1.6% by the day&#8217;s end. Nevertheless, the current scenario indicated a decrease of nearly 1%, with the token&#8217;s value hovering around $0.06. Notably, its Relative Strength Index (RSI) plummeted significantly below the neutral threshold of 50, standing at less than 40.<\/span><\/p>\n<figure id=\"attachment_338196\" aria-describedby=\"caption-attachment-338196\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41.png\"><img decoding=\"async\" class=\"wp-image-338196 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41.png\" alt=\"DogeCoin daily price trend\" width=\"1793\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41-300x118.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41-1024x404.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41-768x303.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/DOGEUSD_2023-08-24_14-55-41-1536x606.png 1536w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-338196\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">Turning to SHIB, it demonstrated a more substantial surge on the same day, marking a growth of over 4% in its value. As of this writing, however, it has experienced a decline of approximately 1%. Unlike DOGE, SHIB&#8217;s RSI was also positioned beneath the neutral line, indicating its prevailing downtrend.<\/span><\/p>\n<figure id=\"attachment_338197\" aria-describedby=\"caption-attachment-338197\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07.png\"><img decoding=\"async\" class=\"wp-image-338197 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07.png\" alt=\"Shiba Inu daily price trend\" width=\"1793\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07-300x118.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07-1024x404.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07-768x303.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBUSD_2023-08-24_15-02-07-1536x606.png 1536w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-338197\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">FLOKI, too, enjoyed an increase exceeding 2% on 23 August, yet its current state reflected a loss. Also, its RSI underscored a solid bearish trend by residing below 35.<\/span><\/p>\n<figure id=\"attachment_338198\" aria-describedby=\"caption-attachment-338198\" style=\"width: 1793px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47.png\"><img decoding=\"async\" class=\"wp-image-338198 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47.png\" alt=\"Floki daily price trend\" width=\"1793\" height=\"707\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47.png 1793w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47-300x118.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47-1024x404.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47-768x303.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/FLOKIUSDT_2023-08-24_15-01-47-1536x606.png 1536w\" sizes=\"(max-width: 1793px) 100vw, 1793px\" \/><\/a><figcaption id=\"caption-attachment-338198\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<h4><b>Did the DOGE, SHIB, and FLOKI volumes react?<\/b><\/h4>\n<p><span style=\"font-weight: 400;\">Similarly, when examining the trading volume of Dogecoin, Shiba Inu, and Floki, it became evident that there were no notable spikes in activity. According to the volume data available on Santiment, these tokens exhibited consistent volume patterns on 23 August. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">As of this writing, the trading volumes were approximately 233 million, 169 million, and 9 million for DOGE, SHIB, and FLOKI, respectively.<\/span><\/p>\n<figure id=\"attachment_338199\" aria-describedby=\"caption-attachment-338199\" style=\"width: 2560px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023.png\"><img decoding=\"async\" class=\"wp-image-338199 size-full\" src=\"http:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023.png\" alt=\"DOGE, SHIB, FLOKI volume\" width=\"2560\" height=\"867\" srcset=\"https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023.png 2560w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023-300x102.png 300w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023-1024x347.png 1024w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023-768x260.png 768w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023-1536x520.png 1536w, https:\/\/ambcrypto.com\/wp-content\/uploads\/2023\/08\/SHIBA-INU-SHIB-15.33.14-24-Aug-2023-2048x693.png 2048w\" sizes=\"(max-width: 2560px) 100vw, 2560px\" \/><\/a><figcaption id=\"caption-attachment-338199\" class=\"wp-caption-text\">Source: TradingView<\/figcaption><\/figure>\n<p style=\"text-align: center;\">\n","protected":false},"excerpt":{"rendered":"<p>Unraveling Musk&#8217;s cryptic signals as Dogecoin&#8217;s captain, exploring intertwined Shiba Inu and Floki voyages. Did his recent post steer their fates?<\/p>\n","protected":false},"author":76,"featured_media":338200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"footnotes":""},"categories":[31,5824,66,3,4,20],"tags":[],"class_list":["post-338193","post","type-post","status-publish","format-standard","has-post-thumbnail","category-altcoins-news","category-memecoins","category-new-news","category-news","category-social","category-trading-view"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Did Elon Musk&#039;s latest move influence DOGE, SHIB, and FLOKI?\u00a0 - AMBCrypto<\/title>\n<meta name=\"description\" content=\"DogeCoin, Shiba Inu, and Floki recently witnessed a regular market movement despite Elon\u2019s post that has moved them in the past.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-image-preview:large\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ambcrypto.com\/did-elon-musks-latest-move-influence-doge-shib-and-floki\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Did Elon Musk&#039;s latest move influence DOGE, SHIB, and FLOKI?\u00a0 - AMBCrypto\" \/>\n<meta property=\"og:description\" content=\"Unraveling Musk&#039;s cryptic signals as Dogecoin&#039;s captain, exploring intertwined Shiba Inu and Floki voyages. 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