Tesla's billionaire businessman Elon Musk, who is trying to dominate the crypto money market, made a statement that those who had DogeCoin would sell it.
Cryptocurrency markets fell after businessman Elon Musk tweeted about DogeCoin.
Musk tweet "If major Dogecoin holders sell most of their coins, it will get my full support. Too much concentration is the only real issue imo." said.
With Musk's tweet, Bitcoin fell 4.8 percent, Ethereum fell 11 percent and DogeCoin fell 24 percent. In the top 10 cryptocurrencies in the market, the decline is around 10 percent.
SO WHY DID DOGECOIN RISE?:
The crypto currency DogeCoin, which has recently been supported by social media posts, rose to record highs after new social media posts by Tesla founder Elon Musk, US rapper Snoop Dogg and musician Gene Simmons.
Businessman Elon Musk tweeted "Inevitable" and DogeCoin was breaking record after record.
REDDIT EFFECT:
Before DogeCoin rose, members of the formation on the social media platform Reddit had caught the Melvin Capital fund in the open in GameStop stock and made a purchase. In addition to the GameStop share, which rose from $ 15 to $ 400 in a short time, the group that bought DogeCoin with Elon Musk's tweet had raised the crypto currency.
