As the cryptocurrency market continues to grow, its assets have often demonstrated the effect of outside factors, like social media posts by famous individuals, on their prices, with one of the most influential figures in the sector being Tesla (NASDAQ: TSLA) CEO Elon Musk.
Indeed, in the most recent such development, 20 hours after Elon Musk shared an X post wishing his followers a happy St. Patrick’s Day, featuring an image of three dogs wearing hats, the price of dogwifhat (WIF), a dog-themed crypto asset launched on the Solana (SOL) chain, has skyrocketed by nearly 30%.
pic.twitter.com/ISL9LJboSF
— Elon Musk (@elonmusk) March 17, 2024
Specifically, dogwifhat has raced from $2.5409 to $3.23 since Musk’s post on social platform X, reflecting the power that he has on digital assets that the crypto community perceives as bullish hints, previously demonstrated with his posts seemingly referring to Dogecoin (DOGE) or Bitcoin (BTC).
dogwifhat price analysis
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