Dogecoin set to exit top 10 despite continued support from Elon Musk
Tesla CEO Elon Musk enthralled the Dogecoin community by announcing that he’s going to post another picture of Floki, his Shiba Inu puppy, on Monday.
The self-proclaimed Dogefather tweeted that her adorable dog arrived in early September. As reported by U.Today, Floki Inu, a Dogecoin copycat that was launched on Binance Smart Chain, saw a 100 percent price uptick after Musk published the very first photo of his puppy to the great delight of his fans.
Musk, who is currently the richest person on the planet with an estimated net worth of $ 200 billion, recently estimated that crypto cannot be destroyed, but he believes governments are able to stifle the growth of industry.
Dogecoin is struggling to regain its momentum
After the recent retail mania came to an end, Dogecoin has become less sensitive to Musk’s tweets.
Despite the growing adoption of merchants, the parody cryptocurrency is now poised to exit the 10 largest cryptocurrencies by market cap after disappointing price performance over the past few months.
DOGE is now down 65 percent against Bitcoin, the flagship coin, since its May 7 peak.
