In a recent Twitter post, Elon Musk, the CEO of Twitter, shared images related to Dogecoin, causing the coin’s value to skyrocket. The Tesla CEO posted three photos of a Shiba Inu dog sitting on a director’s chair in the Twitter office. Elon Musk dressed the pup in different outfits and poses for each photo, with the most prominent one being the dog in a black t-shirt with “CEO” written on the right chest, along with a tweet saying, “New CEO of Twitter is amazing.”
The new CEO of Twitter is amazing pic.twitter.com/yBqWFUDIQH
— Elon Musk (@elonmusk) February 15, 2023
As soon as the tweet was posted, Dogecoin’s price surged by over 6%, currently trading at $0.086 USD, according to TradingView. This move was not surprising, as Elon Musk has previously tweeted about Dogecoin, resulting in significant market gains.
Dogecoin was initially created as a joke in 2013 but has recently gained mainstream attention due to celebrity endorsements. Tesla’s CEO has long been a vocal supporter of the cryptocurrency, and his tweets often move the market.
Dogecoin’s rise in value has puzzled many financial experts as the currency lacks a particular use case, and it is not clear what the future holds for this meme-inspired cryptocurrency. However, with the power of Elon Musk’s tweets, Dogecoin continues to rise and gain popularity among traders.
The recent tweet by the CEO of Twitter has once again demonstrated the power of social media and celebrity influence in the cryptocurrency world. It remains to be seen how much further Dogecoin’s value will climb, but one thing is for sure; Elon Musk’s tweets will always have an impact on the market.
Read more:
- Whales Have Made Large Dogecoin Transfers While DOGE Price Shows Major Decline In Past Week
- Crypto Whales Are Moving Hundreds Of Millions Of Dollars Worth Of Ether And Dogecoin (DOGE)
- Elon Musk Made Yet Another Public Display Of His Allegiance To Dogecoin At The Super Bowl