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Slump in cryptocurrency continues for second day, Dogecoin falls 20%

Shortpedia

Content Team
Image Credit: Shortpedia

Elon Musk's favourite meme coin Dogecoin slumped 20% as Bitcoin struggled to break the $50,000 resistance. Prices of Bitcoin and other major cryptocurrencies including Ethereum declined sharply after Tesla announced that it won't be accepting Bitcoins for the sale of its vehicles. A whopping $365 billion was wiped out from the crypto market after traders went on a spree of panic selling following Musk's tweet.