Elon Musk Thinks Dogecoin (DOGE) Could Hit $1
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Elon Musk, the richest man in the world, who is the CEO of Tesla, the electric car manufacturing company, continues to enjoy his jokes with the cryptocurrency that came to existence out of meme, Dogecoin (DOGE).

A while ago, the billionaire took to Twitter to reveal a DOGE purchase for his baby son. After this Tweet, the price of DOGE spiked 20% in the market.

Read Also: Elon Musk’s “DOGE” Tweet now worth $7,777 In Crypto Tokens

Elon Musk Purchases Dogecoin (DOGE) For His Baby Son

The founder of SpaceX is known in the cryptocurrency ecosystem for his somewhat comical comments and support for the Dogecoin (DOGE).

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In his recent post in relation to the meme token, he claimed that he just purchased a portion of the coin for his baby son, who is officially named X Æ A-Xii.

Elon Musk tweeted, “Bought some Dogecoin for lil X, so he can be a toddler hodler.”

Elon Musk and his partner the musician Grimes revealed recently that their child will be called “Little X” for short.

So, with the look of things, his son has become the youngest hodler of Dogecoin (DOGE) following dad’s recent purchase.

In the past, Musk’s interactions with Dogecoin had instant effects on the price of the cryptocurrency. Such a scenario has once again played out today. At the time when Tesla’s CEO posted on Twitter, DOGE traded at $0.068. In the following minutes, the altcoin surged by 20% to a daily high of $0.082.

Read Also: Elon Musk Is Sending Dogecoin Back to the Moon with “Who Let the DOGE Out” Tweet

It’s worthy of note that besides DOGE, Musk recently became significantly more supportive of the flagship digital currency, Bitcoin (BTC).

Firstly, he regretted not purchasing any eight years ago, and then news broke that the electric vehicle company that he runs, Tesla, had allocated $1.5 billion in BTC in January 2021.

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Solomon Odunayo

By Solomon Odunayo

Solomon Odunayo is an accomplished blockchain and cryptocurrency expert at Herald Sheets, known for his in-depth analysis and engaging articles that cater to both beginners and experienced readers. With a degree in Computer Science from the University of Lagos, Solomon leverages his technical background and keen understanding of the crypto space to provide readers with valuable insights and up-to-date news. His passion for innovation and commitment to staying current with industry developments make him a trusted voice in the digital currency community.