Meme-based cryptocurrency Dogecoin (DOGE) gained 50% in minutes after a fresh endorsement from SpaceX and Tesla CEO Elon Musk, who has recently been converted into Bitcoin, has tweeted DDogecoin is the people’s crypto.
Dogecoin is the people’s crypto
— Elon Musk (@elonmusk) February 4, 2021
“Doge,” he added in a subsequent comment, with later tweet reading “Ur welcome,” accompanied by a doctored image of the Dogecoin shiba inu mascot as Simba in the Disney film, “The Lion King.”
By the way, Musk has removed “Bitcoin” from his Twitter bio. When he tagged Bitcoin recently, this action of the Tesla chief pushed Bitcoin from the $32,000 level to the $38,500 zone.
In response to Houbi exchange, Musk tweeted “The most entertaining outcome is the most likely”. Once Musk tweeted that the “most entertaining outcome” would be if DOGE became “the currency of Earth in the future”.
Recently, in an interview with Clubhouse, he described his various previous interactions with the cryptocurrency as “jokes,” nonetheless musing that its best days could still lie ahead.
“Dogecoin is made as a joke to make fun of cryptocurrencies, obviously, but fate loves irony,” he summarized at the time.
DOGE/USD 30-minute candle chart | Source: TradingView
Immediately afterwards, Dogecoin leapt from $0.04 to local highs of $0.058, while trade volume also surged by over 80% compared to Wednesday.
Read more:
- Dogecoin Price Rallied By More Than 85%, Will Investors Quickly Took Profits?
- The Chairman Of The Wall Street Bets Group Asked About Dogecoin On Twitter, DOGE Price Soar 85% Immediately After