What's Going On With Dogecoin Today?

Dogecoin DOGE/USD traded 2.27% lower at $0.25 in the early hours of Thursday after Tesla Inc TSLA CEO Elon Musk’s latest "dogz rūl" tweet.

What Happened: Musk was replying to a meme posted by a Twitter user, which tracked the evolution of dogs as companions to humans. 

Yeah, but dogz rūl

— Elon Musk (@elonmusk) July 1, 2021

DOGE, the sixth-largest cryptocurrency by market cap, is still up 6.53% for the week.

Why It Matters: Musk often tweets about DOGE, but his tweets do not always drive up the price of the Shiba Inu-themed cryptocurrency.

See Also: How To Buy Dogecoin (DOGE)

On Monday, the Tesla CEO announced that his own Shiba Inu will be named Floki. A cryptocurrency by the same name quickly emerged soon after and registered a massive surge.

Dogecoin is witnessing a slump this month, down 35%, but its year-to-date gains still stand at a whopping 4206%, as of press time.

Read Next: Telcoin, Fantom, Shiba Inu — Altcoins Seeing High Social Media Interest Today