Dogecoin surges on Elon’s Tesla tweet, Bitcoin and Ethereum still languish

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27 of the top 30 cryptos by market capitalisation were in the fallers category this morning

Elon Musk unleashed Dogecoin buying with a tweet, telling the world Tesla merchandise is ‘buyable’ with the so-called meme-coin. Elsewhere, it was another down-day for Bitcoin and Ethereum.

Bitcoin was 2.7% lower, continuing to cling to the US$42,500 level whilst Ethereum was down 2.6% at US$3,258.

Both of the leading cryptos remain 30-35% below all-time highs seen in November.

Alt-coins Solana and Cardano slipped 4.2% and 3% respectively whilst Terra, Avalanche and Polygon were down 4.4%, 5.5% and 5.9% respectively.

Falling further Chainlink gave up 6.4%.

Outside of the ‘top 20’, Algorand, Cosmos, and Internet Computer were also heavier fallers, losing 7.0%, 8.2%, and 7.4% respectively. 

Thanks to Musk’s tweet, Dogecoin surged 12.6% to US$0.196 outpacing rival doggy meme-coin Shiba Inu which declined 2.0% to US$0.0000313. 

Overall, 27 of the top 30 cryptos by market capitalisation were in the fallers category this morning.