Dogecoin has Surged by 20% after Elon Musk Tweeted about the Meme Cryptocurrency

As many already know, Elon Musk has left the current support for Bitcoin and is surfing his energy and time on Dogecoin instead. Musk was very public about this as he tweeted about the use of fossil fuels such as coal when it comes to Bitcoin mining, thus putting a direct strain on the environment. Tesla did decide to dump its stash of Bitcoin that was acquired for about $1.5 billion but then Tesla’s statement in the following days as they got enough heat from the Bitcoin proponents read that they might not go through with it. So, that is the case, presented in front of you in full entirety, and since then, well way before this, Musk has made Dogecoin his personal project. 

Elon Musk Hinting at a Near-Future Price Surge for Dogecoin

Recently Elon Musk got to twitter about an update on Dogecoin, and there was a picture of a shiny neon window inside which a barely visible $1 note resides, and the tweet did read ‘How much is that Doge in the window?’ This only points towards one thing and one thing only that according to Elon Musk, the Dogecoin’s price might improve to $1, which has been a tumbling task for the meme cryptocurrency all these years. This is not the first tweet from Musk regarding Dogecoin as the influencer has been supporting the cryptocurrency for a while. Being the CEO of Tesla and SpaceX, Musk is taken pretty seriously in the business industry, and his words do reach celebrities and financial enterprises. 

So, it is quite possible that this would incur a change of approach for investors and traders towards Dogecoin, and before you know it, investors will be jumping at making some investment with the meme cryptocurrency. If this is the plan of Musk all along to make the price of Dogecoin hit $1, then it is possible that it might work. In a fair number’s assessment, Dogecoin has surged more than 6500% since the beginning of 2021. And with enough influencing and free advertising received from Elon Musk over all this time, it is possible that Dogecoin might finally reach $1, and it is already happening as, since the publishing of the tweet, the cryptocurrency is already up 20% in relation with the previous price.

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

Currently, there are Rare Chances of Bullish Run for both Bitcoin and Ethereum

There have been surprisingly enough data put forth by crypto enthusiasts, predictions, and wishful odds, all pointing towards a possible bullish run for both Bitcoin and Ethereum. While there was no mention of when it might happen for the crypto market, the urgency of these odds playing out could be felt from the statement, but […]

MicroStrategy now has more than 105k Bitcoins after Purchasing another 13005 Bitcoins

Despite the fact that cryptocurrency and the idea of acquiring it, especially Bitcoin, are being shunned over in various capital-driven regions such as China, the adoption rate for the cryptocurrency has also been pretty great. El Salvador has become the first-ever country to introduce Bitcoin into its currency and financial streams as there also have […]

Crypto Investors can Take Part in the Upcoming Auction for Rare Diamond by Sotheby

Sotheby is the largest fine arts and decorative collectibles brokers in the world. The company has about 80 offices in 40 different countries. The biggest Sotheby offices are present in the United Kingdom as it was founded by Britain natives. However, at present, the main headquarters of the auction house is situated in the United […]

Another Small Country of America has Made Plans to Make Bitcoin a Legal Tender

El Salvador’s big crypto revolution has to turn into an epidemic. Many other countries in the region are following suit left and right. Bitcoin has become a more popular mode of trading in comparison to fiat. In the same vein, Paraguayan- a South American nation, has come forward to ensure that they are in the […]