Dive into the captivating world of cryptocurrencies where Elon Musk, followed by millions on Twitter, orchestrates a new take-off for the Dogecoin (DOGE) price with a funny tweet. Find out how this simple magic word “Doge” is propelling the DOGE price to new heights, under the watchful eye of Tesla’s CEO, a great promoter of the “meme coin“.
In the cut-throat world of cryptocurrencies, there’s one character who has the ability to rock the markets with a simple click. Followed by nearly 149 million people on Twitter, Tesla CEO Elon Musk is a veritable maestro when it comes to boosting the price of a cryptocurrency in a matter of moments.
This time, it’s Dogecoin’s (DOGE) turn to be propelled to new heights thanks to a humorous, unpretentious tweet. The mere mention of the word “Doge” was enough to send the DOGE share price soaring by 5%, from $0.68 to $0.72 in the blink of an eye.
Dogecoin, catching up?
It’s well known that Dogecoin is Elon Musk’s favorite cryptocurrency, and he regularly promotes it. This “meme coin”, originally created as a joke, seems to have won the tech magnate’s heart.
This isn’t the first time Elon Musk has stirred up the Dogecoin price in spectacular fashion. In April 2023, he replaced the Twitter logo with that of Dogecoin, causing a 27% jump in the DOGE price.
The SpaceX CEO makes no secret of his affection for this particular crypto. He told the Wall Street Journal last May that he remains a fervent fan of Dogecoin, and even spoke of the irony that a “meme coin” created as a joke could one day become a global currency.
So it’s no surprise to see him do it again, evoking Dogecoin once more in a teasing tweet. Once again, the DOGE exchange rate is propelled towards new horizons, while the entire cryptosphere is enthralled by the next feats of maestro Elon Musk.
Dogecoin may have some catching up to do compared with the Bitcoin (BTC) price, which has risen sharply in recent months, but with Elon Musk at the helm, nothing is impossible. For the moment, the Dogecoin price is hovering around $0.07, but who knows how high it will soar with the next wave of the famous CEO’s magic wand?