Most people by now have probably heard about the ridiculous gains made by the Internet’s first meme crypto-currency these last few weeks, with Dogecoin going to the moon after yet another barrage of crypto-Twitter tweets made by none other than the rocket-man himself: Elon Musk.
Elon Musk, the billionaire founder of SpaceX, Tesla, a company that became known as PayPal and some software company in the 90s, has publicly stated, “Dogecoin might be my fav cryptocurrency. It’s pretty cool.”
Dogecoin was launched as a joke to reference the meme Doge. On January 28th or 30th, it went up 420.29%. Musk has caused a surge in Doge before, but this surpasses the 20% he brought it up by last time. On that occasion, he did it by tweeting this:
Musk has never shied away from proclaiming his love for what he has repeatedly called his favorite crypto-currency. Even in 2019, Elon was not hiding his admiration and praise for the coin.
Elon Musk must believe in this cryptocurrency to support it so often. It might be that he has put a lot of money into it and uses these techniques to bring profit to himself, and fans of Doge have spent a lot of money keeping it that way.
Late last month, when Elon Musk alluded to Dogecoin, people decided to make it soar in value.
Many took the call to be an allusion to the Dogecoin cryptocurrency, buying as much stock as they could, causing the value to shoot up and continue heading that way for quite some time, until recent days.
Musk is not only the wealthiest person in the world, but he may be the most influential as well – all the Dogecoin tokens combined are now worth about $10billion (£7.2billion), climbing past the milestone and into the cryptocurrency top ten over the weekend. Elon is an icon for the everyday Twitter-poster and internet user. He likes talking to his followers and is not afraid of making jokes like his long-history of Doge tweets. His spirit is what makes his tweets so popular.
Elon had previously been critical of more established and far-more expensive cryptocurrency Bitcoin, calling it BS on Twitter. But in an interview Sunday on social app Clubhouse, Musk said he should have bought the digital currency eight years ago.
He is determined not to be late to the party on Dogecoin.
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