Elon Musk Thinks Dogecoin (DOGE) Could Hit $1
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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.

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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

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.