Dogecoin [DOGE] entered the market and emerged as a game changer. Tesla CEO Elon Musk didn’t let anyone go chance to DOGE . to support† He further increased his interest in the meme crypto assets by extending support for them Tesla† SpaceXand more recently, Loop† Therefore, it was a given that Musk’s Twitter would have a strong DOGE presence. However, things did not go as expected.
Musk shook the internet by announcing his interest in acquiring social media giant Twitter. After this, Dogecoin started seeing abrupt spikes in its price. Some even speculated that this could be DOGE’s ticket for $1.
Dogecoin to $1 has been a dream for many supporters. Possible integration of the cryptocurrency by Elon Musk on Twitter was expected to drive the price of the asset. This whole deal started around April, but months after expectations were raised, the deal fell apart on July 8. In addition, Musk was sued by Twitter for violating the $44 billion dollar deal.
Dogecoin has been dealing with the bear market in the meantime along with the fallout from this deal. Having turned out to be one of the most sought after investments during the bear marketDOGE plummeted. In the past seven days, DOGE fell more than 12 percent. This brought the asset to a low of $0.0583.
Dogecoin thrives among BSC whales
Despite its recent demise, Dogecoin appears to be gaining traction amid Binance Smart Chain [BSC] whales. WhaleStats revealed that Dogecoin was the most used in smart contracts in the top 100 BSC whales.
Additionally, at the time of writing, Dogecoin fell 3.06 percent in the past 24 hours. The altcoin traded at $0.05986.