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Elon Musk’s Tweet Contributed to Dogecoin’s Spike

29 April 2021, 10:24
Votes: 1

Dogecoin has begun to appear in cryptocurrency news articles more and more often. The dog-themed crypto-cash seems to even draw ahead of Bitcoin in terms of popularity.

Elon Musk’s Tweet Contributed to Dogecoin’s Spike

This time, Elon Musk, one of the most influential entrepreneurs in the 21st century, has fueled the hype around a digital currency.

Musk named himself the “Dogefather”

On Wednesday, the business magnate published a new post on his social media, giving himself a title of the “Dogefather”. This significant tweet caused much interest among his millions of followers. Some time ago, the entrepreneur commented on Dogecoin as people’s cryptocurrency and said that this one was his most favorite. It can be a hint that Musk, who has already shown a great interest in BTC, will also invest in meme-based crypto.

Musk’s attention to Dogecoin led to another spike in its price. It has grown to $0.32, bringing back its success happening several weeks ago. This twenty percent increase after the price fall has inspired many crypto investors who see the potential in Dogecoin. However, it is worth mentioning that it isn’t the first time when Elon expresses his interest in this digital asset. Earlier, the businessman also made ambiguous tweets about it. For example, he posted only the crypto’s name or meaningful expressions about it.

Read more: Detailed information about Ethereum Classic price

Read more: Bitcoin price prediction 2021 from experienced investors

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