Why is Dogecoin Going Down? Elon Musk Dumped DOGE Again?

[Coinpedia Fintech News]

The crypto markets may be feeling stagnant, but the same can't be said for Dogecoin. In a shocking twist, the once-beloved meme coin saw a whopping 8% drop in its price, tumbling from its highs of $0.09 to trade at $0.084. So, what caused this downward spiral? It turns out, the same man who helped the coin soar in value just a few days prior may be the culprit: Elon Musk.

The Tesla and Twitter CEO, known for his love of Dogecoin, changed his Twitter logo to DOGE, leading to rampant speculation and a surge in price by over 20%. But alas, the bears swooped in, limiting the upswing to a meager $0.092.

What's next for the volatile Dogecoin?