- Dogecoin price is consolidating in a tight range, extending from $0.230 to $0.270.
- A decisive close above the resistance barrier at $0.285 will kick-start an uptrend, but a flip of the lower boundary at $0.230 might extend the pullback to $0.215 or $0.209.
- Elon Musk shouts out Baby Doge Coin, leaving behind Dogecoin.
Dogecoin price is consolidating in a narrow range as investors move to newer meme coins. This range-bound move for DOGE is similar to what other similar cryptocurrencies are experiencing as the hype around them wither away.
Elon Musk leaves Dogecoin behind
The history between Musk and Dogecoin runs deep. From naming himself the ‘Dogefather,’ talking about it on the SNL, to ‘sending’ Dogecoin to the moon, the fans have loved Elon Musk for his endorsements.
However, the recent turn of events might have left these supporters dumbfounded as the CEO’s allegiance shifted to a newer and younger version of Dogecoin known as ‘Baby Doge Coin.’
This move by the Dogefather made matters worse for DOGE, as he tweeted
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge, doo, doo, doo, doo, doo,
Baby Doge— Elon Musk (@elonmusk) July 1, 2021