Dogecoin Pumps After Elon Musk Tweet
-Tesla CEO, Elon Musk caused the value of Dogecoin to increase when he tweeted about the coin on Saturday Night
-Replying to a tweet that said “Not every tweet is about Bitcoin”, Musk tweeted “Sometimes it’s about Doge”
-Musk has given the Shiba-Inu themed crypto currency his full support on many occasions
Tesla and spaced appears not to be backing down from his support to Dogecoin.
On Saturday Night (+1 GMT), the billionaire put out another tweet about the cryptocurrency.
A tweeter user with the handle @LexiFridamn tweeted that “…Not everything is about Bitcoin. Or is it?”. Musk replied it saying “Sometimes it is about Doge”.
Sometimes it’s about Doge
— Elon Musk (@elonmusk) March 18, 2021
This is not the first time that the Technocrat has backed cryptocurrencies on his Twitter.
Musk has tweeted about Bitcoin and Doge at different times which led to a pump in their value. The pump is usually followed by a drop and this has been themed the “The Musk Effect”.
Last weekend, Musk tweeted about Doge, which caused the cryptocurrency to reach a new all-time high above $0.06.
He also went on a tweeting spree in February that caused the Shiba Inu crypto to trade about 8 cents.
Read also: Bitcoin is set to reach $60,000 after dropping off earlier this week.
Musk also made a tweet in February urging Dogecoin whales to sell most of their coins. The SpaceX CEO believes that too much concentration of Doge was responsible for its regular fallback.
At the time of this article, Doge is trading at $0.058040.
Follow Naija.fm on our social media handles Facebook, Instagram, and Twitter to keep up with trending news, breaking news, entertainment news, and hot gist.
