"It's such a headache, Tesla's stock is falling, but why is DOGE also following along?"
Billionaire Elon Musk who is also the biggest supporter of Dogecoin (DOGE) is once again the cause of the memecoin's price decline when the shares of his company Tesla Inc (TSLA) plummeted continuously.
If observed, TSLA's stock price dropped to $109.09 compared to its previous high of $200 which recorded a loss of around 5.97%.
The following situation has had an impact on DOGE which pushed its price to slip at $0.07275 in the last 24 hours as the Tesla car maker stopped production at its Shanghai factory.
The action was implemented following the Covid infection in China which saw a drastic increase every day.
Meanwhile, the largest holder of the DOGE wallet is reported to have suddenly transferred 3.8 billion memecoins worth $280.6 million.
The transfer happened when Musk released a poll (survey) on his Twitter about whether he should continue his duties as the Chief Executive Officer (CEO) of Twitter or not.
In the meantime, some cryptocurrencies so far still maintain a flat momentum with Bitcoin (BTC) in the $16,684 price zone, but the situation is different for Terra Classic (LUNC) which continues to see an increase.
