Dogecoin surged 50% after the world’s richest man, Elon Musk, tweeted “DOGE” and several other tweets about the asset.
Tesla and SpaceX, Elon Musk, recently tweeted “DOGE,” after which the crypto asset surged 50%. Shortly after the one-word tweet, Musk posted a meme with the Dogecoin Shiba Inu dog icon. He captioned it, “ur welcome.”
Shortly after, he posted another tweet. He wrote:
“Dogecoin is the people’s crypto.”
Musk’s tweets generated a lot of attention, with thousands of likes and retweets within hours. As a result, Dogecoin became a trending topic on Twitter.
At press time, DOGE has gained 34.70% to $0.04258. Notably, DOGE was trading at around $0.031 earlier today and reached $0.0578 at some point in reaction to Musk’s tweet. Data by CoinMarketCap revealed that Dogecoin’s 24-hour trading volume had gained 454.67%.
Ranked 15th, DOGE has also climbed 36.31% to over $5.5 billion in market capitalization. In addition, DOGE has advanced about 320% in the last seven days.
Before now, Musk had revealed that he holds DOGE.
Furthermore, Musk has removed “Bitcoin” from his Twitter bio. The billionaire mentioned Bitcoin on his bio in late January, after which BTC advanced from $32,000 to around $38,000.
At the time of writing, Bitcoin is up 0.45% to $37,015.07.
Image Credits: Pixabay
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