What's Going On With Dogecoin Today?

Dogecoin DOGE/USD traded 3.8%  lower at $0.243 at press time late Thursday — failing to shoot up despite Tesla Inc TSLA CEO Elon Musk’s tweets.

What Happened: Dogecoin is still outperforming the wider market, with cryptocurrency market capitalization dropping 4.28% lower to $1.38 trillion. Bitcoin BTC/USD traded 4.1% lower at $33,457.27 and Ethereum ETH/USD traded 7% lower at $2,100.50. Dogecoin traded 0.9% higher against BTC and 4% higher against ETH as of press time.

Why It Matters: Musk put out a number of Dog-themed tweets on Thursday including one where he said “dogz rūl" and another Godfather-themed post with the text “Release the Doge!”

See Also: How To Buy Dogecoin (DOGE)

While Musk’s second dog-themed tweet caused an initial surge in Dogecoin, the Shiba Inu-themed cryptocurrency remains overall subdued this week and is down 9.29% in the period.

Musk revealed this week that his Shiba Inu will be named Floki, which led to the emergence of a new cryptocurrency by the same name.

Even so, DOGE is up 5,107.87% since the year began, but has fallen 66.62% since it touched an all-time high of $0.74 in May.

Read Next: Dogecoin Co-Creator Warns On Nothing Being 100% Safe In Crypto As SafeDollar Stablecoin Drops To $0