Friday, February 26, 2021

Elon Musk’s Recent Dogecoin to the Moon Tweets Is Shooting up DOGE’s Price

Elon Musk, the CEO of the car manufacturing company, Tesla, has just tweeted three times about Dogecoin (DOGE), sending the digital token created out of meme up 20% in the last hour. At the time of writing, DOGE is priced at $0.047, with a 50% price uptrend in the last 24 hours

Musk started by tweeting a picture of a rocket shooting past the moon but followed it up with a tweet that said “Doge.” Certainly, the tweet is currently aiding the uptrend of the digital token in the market.

Read Also: Elon Musk Just Changed His Twitter Bio to Bitcoin, BTC Price Skyrockets

The price of Dogecoin (DOGE) has been extremely volatile in the past week. Known for seeing sudden spikes and dumps, Dogecoin saw its biggest pump yet when Telegram groups and other groups inspired by the Wall Street Bets movement started pumping its price, trying to get it to the distant $1 mark. Its price rose as high as $0.08 only to crash as low as $0.02 shortly afterward. Since then, its price recovered somewhat until today’s pump.

Read Also: Dogecoin (DOGE) Listed On Three Exchanges within 24 Hours

Musk has also removed the mention of Bitcoin from his bio, leaving it blank for now. When he added it, it spiked Bitcoin’s price by $6,000, kicking off a new bullish wave of momentum. But removing it had little to no effect.

Musk followed up his tweets by saying, “The most entertaining outcome is the most likely.”

This is the same thing he expressed in a recent clubhouse event, where he noted that “fate loves irony,” pointing out that “the most entertaining outcome and the most ironic outcome would be that Dogecoin becomes the “currency of earth in the future”

Read Also: Dogecoin (DOGE) Tweet Volume Rises by Over 1800%, Becomes First Altcoin to Surpass Bitcoin (BTC)

Moments after his first tweets and Dogecoin’s initial pump, Musk then tweeted an image of the scene from the Lion King where Rafiki holds up a young Simba. Only it was doctored to show him holding up a young Dogecoin. He added, “ur welcome.”

Howbeit, he said at the clubhouse event that his tweets are meant to be taken as jokes. But then he also said he was taking some time off Twitter.

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Solomon Odunayo
Solomon has a growing passion for writing, this propelled him to keenly work on Eagles News Media for about two years before delving into the cryptocurrency and Blockchain industry he finds more interesting. He worked as a crypto Journalist and Editor at NewsLogical before joining Herald Sheets, owing to the priceless experience he has accumulated since he became a contributor in the crypto community.

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