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What's Going On With Dogecoin Today?

TheMotleyFool

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Today's been a very volatile one for meme token Dogecoin (CRYPTO: DOGE). In Asian trading hours, Dogecoin fell off a cliff, dropping nearly 5% in the span of just more than an hour, around 3 a.m. ET. Since then, this token has recovered most of its losses, currently trading down only 0.4% as of 2:50 p.m. ET.

Dogecoin has once again gained speculative momentum over the past week, surging on news that Tesla CEO Elon Musk tweeted, once again, about Dogecoin. This time, the so-called "Dogemaster" would be allowing Dogecoin to be used for Tesla merchandise purchases on the company website. However, since that tweet, Dogecoin has fallen back to roughly the same levels it was trading at pre-tweet.

Image source: Getty Images.

Source Fool.com

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