„You’re welcome“ – New tweets from Elon Musk send DOGE to the „moon“.
The „joke cryptocurrency“ Dogecoin (DOGE) shot up 25% today, 4 February, after „the richest person in the world“ again promoted it on Twitter.
As data from Cointelegraph Markets and TradingView shows, the DOGE/USD currency pair climbed back above the US$0.05 level on Thursday, targeting a new record high.
Although Elon Musk, who had recently caused a stir with his tweets about Bitcoin and Dogecoin, had announced a few days ago that he did not want to tweet about cryptocurrencies „for a while“, he has already followed up again today.
First he posted a picture of a moon and a rocket, followed by another tweet with the word „Doge“. In social media, the moon and the rocket symbolise the hope that certain Bitcoin Cycle review investment products will literally climb to „astronomical“ heights. Especially in the affair about the video game retailer’s stock, this „meme“ had recently gained popularity and also became the mantra of crypto users during Dogecoin’s flight to new heights. So Musk is clearly fuelling his „love“ for the DOGE again with these tweets.
Shortly afterwards, the „dog“ then climbed from 0.04 US dollars to an interim high of 0.058 US dollars, with trading volume increasing by 100% compared to the previous day. Musk commented on this abrupt development with the words „You’re welcome“. To this tweet he attached an image showing an iconic scene from the movie „The Lion King“, with the Tesla CEO’s head and the cryptocurrency’s mascot mounted on the characters Rafiki and Simba (see above).
To express their gratitude for the sudden price rise and resulting gains, crypto investors subsequently spread the hashtag #ThanksElon.
Bitcoin climbs without help
As Cointelegraph had reported, Musk’s recent tweets had fuelled the hype surrounding Dogecoin, which had emanated from the Reddit sub-forum r/Wallstreetbets.
In an interview with Clubhouse, however, he had admitted that his previous comments on the cryptocurrency were meant as a „joke“.
„Dogecoin was originally created as a joke cryptocurrency, but sometimes fate and irony work together,“ he concluded at the time.
In addition, the Tesla boss made headlines when he unilaterally triggered a jump in the price of Bitcoin (BTC) a few days ago by including the market leader in his Twitter status. All the more surprising as he had criticised it just a few weeks earlier.
„It took some time, but I now think Bitcoin is a good thing, which is why I am now a supporter of Bitcoin, but better late than never,“ he clarified to Clubhouse.