Elon Musk collapsed the value of the cryptocurrency Dogecoin

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American entrepreneur, founder of Tesla and SpaceX Elon Musk after calling on Twitter to the major owners of the cryptocurrency Dogecoin to sell some of its coins “dropped” the rate of the cryptocurrency. This on Monday, February 15, follows from the data of the cryptocurrency rating tracking service CoinMarketCap.

According to the service, the cryptocurrency, created in 2013 in honor of the Internet meme Doge with a shiba-inu dog, fell 14% to 5.6 cents amid Musk’s tweets.

Dogecoin reached an all-time high of 8.4 cents last Monday.

On February 14, Elon Musk appealed to large holders of Dogecoin cryptocurrency to sell most of their savings to avoid a concentration of funds.

“If large Dogecoin holders sell most of their coins, it gets my full support. Too much concentration is the only real problem I think,” he wrote on his Twitter.

In early February, Dogecoin, which is ranked 11th in the rankings, went up by a record 780%. Another jump in price occurred after the publication of the word Doge by Ilon Musk on February 4 in his Twitter in response to the picture with the rocket-carrier Falcon 9. The price of the cryptocurrency increased by 76% in the moment.

On January 29, it became known that traders suffered losses of more than $300 million per day as a result of the rapid growth of the Dogecoin token (DOGE). Back on January 28, its price was less than $0.008, and the next day it set a new historical high of $0.087.