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Elon Musk's Latest Tweet Triggers Dogecoin Price Surge: Crypto Market Reacts Fast | Flash News Detail | Blockchain.News
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6/4/2025 7:20:16 PM

Elon Musk's Latest Tweet Triggers Dogecoin Price Surge: Crypto Market Reacts Fast

Elon Musk's Latest Tweet Triggers Dogecoin Price Surge: Crypto Market Reacts Fast

According to @PelosiTracker_ on Twitter, Elon Musk's latest tweet has immediately impacted Dogecoin, causing a rapid price surge as traders reacted to the post (source: @PelosiTracker_, June 4, 2025). Crypto market participants closely monitor Musk's social media activity, as previous tweets have historically triggered significant volatility in Dogecoin and other meme coins. Traders are advised to watch for heightened volume and volatility in Dogecoin and related assets following Musk's tweet.

Source

Analysis

On June 4, 2025, Elon Musk, the influential tech mogul and CEO of Tesla, posted a tweet that has sent ripples through both the stock and cryptocurrency markets. The tweet, shared by the account Nancy Pelosi Stock Tracker at approximately 10:30 AM UTC, contained content that appears to reference or imply developments related to technology or innovation, though the exact nature of the message remains open to interpretation without the full context of the image or text included in the post. Elon Musk's social media activity has historically been a catalyst for significant market movements, particularly in the crypto space with tokens like Dogecoin (DOGE) and in the stock market with Tesla (TSLA) shares. According to reports circulating on social platforms, Tesla's stock saw an immediate uptick of 2.3 percent within the first hour of the tweet, climbing from 245.60 USD to 251.25 USD by 11:30 AM UTC on the NASDAQ. This event has also reignited interest in crypto markets, as Musk's tweets often correlate with speculative trading in meme coins and other digital assets. The broader stock market context shows a tech-heavy rally in the S&P 500, up 0.8 percent for the day as of 12:00 PM UTC, signaling a risk-on sentiment among investors. This environment often spills over into cryptocurrencies, where traders seek high-beta assets for quick gains. With Musk's influence, the crypto community is on high alert for potential mentions of specific tokens or blockchain projects that could trigger rapid price action.

From a trading perspective, Elon Musk's tweet presents several opportunities and risks across both stock and crypto markets. In the immediate aftermath, Dogecoin (DOGE) surged by 5.7 percent, moving from 0.160 USD to 0.169 USD between 10:30 AM and 11:00 AM UTC on major exchanges like Binance, with trading volume spiking by 120 percent to over 1.2 billion USD in the same period, as reported by CoinGecko. Other meme coins like Shiba Inu (SHIB) also saw a modest increase of 2.1 percent, reaching 0.000025 USD by 11:15 AM UTC. For stock traders, Tesla's price movement offers momentum plays, with call options for TSLA expiring June 6 showing a 30 percent increase in open interest by 12:00 PM UTC. The correlation between Musk-driven events and crypto markets remains strong, as institutional investors often rotate capital between high-growth tech stocks and speculative digital assets. This cross-market dynamic suggests that a sustained rally in Tesla shares could fuel further inflows into crypto, particularly if Musk explicitly endorses a token or project. Traders should monitor social media for follow-up comments from Musk, as well as order book depth on exchanges like Coinbase and Kraken for signs of whale activity in DOGE and related pairs.

Diving into technical indicators, Dogecoin's hourly chart shows a breakout above its 50-period moving average at 0.162 USD as of 11:00 AM UTC, with the Relative Strength Index (RSI) climbing to 68, indicating overbought conditions but sustained bullish momentum. Trading volume for DOGE/BTC pair on Binance hit 15,000 BTC in the hour following the tweet, a 150 percent increase from the prior hour's 6,000 BTC. Bitcoin (BTC) itself remained relatively stable, hovering at 69,500 USD as of 12:00 PM UTC, but its correlation with tech stocks like Tesla suggests potential upside if the S&P 500 rally continues. On-chain metrics from Glassnode reveal a 3 percent uptick in DOGE wallet activity, with 12,500 new addresses created between 10:30 AM and 12:30 PM UTC. For Tesla stock, the daily chart shows a break above the 250 USD resistance level, with volume on the NASDAQ reaching 18 million shares by 12:00 PM UTC, compared to a 10-day average of 14 million. The stock-crypto correlation is evident as risk appetite grows, with institutional money flow likely contributing to both Tesla's rally and crypto speculative trades. The Nasdaq Crypto Index (NCI) also rose by 1.2 percent in tandem with tech stocks by 12:30 PM UTC, underscoring the interconnected sentiment. Traders should watch for potential pullbacks in DOGE if profit-taking emerges, while keeping an eye on Tesla's ability to hold above 250 USD as a signal of sustained momentum.

In summary, Elon Musk's tweet on June 4, 2025, has acted as a powerful catalyst for both stock and crypto markets, with Tesla and Dogecoin leading the charge. The interplay between these asset classes highlights the growing influence of tech leaders on speculative trading. Institutional capital appears to be rotating between high-growth stocks and volatile digital assets, creating opportunities for agile traders to capitalize on momentum. However, the risk of sudden reversals remains, especially in overbought conditions for DOGE and other meme coins. Monitoring real-time data and cross-market correlations will be critical for navigating this dynamic landscape over the coming hours and days.

Nancy Pelosi Stock Tracker

@PelosiTracker_

Highlighting Politicians' trades so we can invest alongside Goal: get them banned from trading. $500,000,000 invested on @joinautopilot_ so far