Dogecoin Price Rises by 50% After Elon Musk Tweet

Dogecoin, a cryptocurrency invented by software engineers Billy Markus and Jackson Palmer who wanted to create a fun, free, and instant method of payment. The face of the Shiba Inu dog which is a popular meme template face also known as “Doge” was used as the logo. Today with a sudden Dogecoin price rises by 50% all thanks to the biggest market tipster “Elon Musk Tweet” which attracts all of us result in the rise of Dogecoin price.

We all know Elon Musk as recently he becomes the richest person in the world also he is the CEO of the greatest companies like “Tesla and SpaceX”. In his tweet, Elon Musk said that “Dogecoin is the people’s crypto”. Also, he added to its Tweet that “No highs, no lows, only Doge” which created hype over people towards cryptocurrency. Moreover, the main Tweet which he Tweeted after all his statements is a meme template picture featuring Elon Musk and Dogecoin in Disney’s The Lion King.

Dogecoin Price Rises After Tweet

Dogecoin was found in the year 2013 after the introduction of Bitcoin which started the era of cryptocurrency. The logo used in Dogecoin is the face of the famous meme material dog Shiba Inu also known as Doge. Billy Markus and Jackson Palmer founder of Dogecoin said that they just started it as a joke after the Bitcoin but according to the last Thursday report by it is stated that the present market value of the coins is $6.3bn (£4.6bn) which is not a joke. According to them the price of a single Dogecoin at present is $0.05204 which is almost a 50% rose in the price.

Elon Musk is regular social media user even with his busy schedule he manages to post tweet almost every day also he has many of its followers who always keeps an eye on his tweets. His small tweets are more than enough to create any hype over people around the world as we see recently when the issue with WhatsApp security rises he just tweet “Use Signal” and with the posting of his tweet seconds by seconds we see a drastic increase in the number of Signal users which is quite insane. Today, he tweeted about Dogecoin which leads to Dogecoin price rises by almost 50%.

He is also the reason for the rising of Bitcoin price last week as he said that he is a supporter of cryptocurrency in an interview carried on Clubhouse, a new social media app focused on audio. We have seen a drastic rise in Bitcoin price last week as it achieved to surpass the price by $38,000 after Musk changed his Twitter biography to #Bitcoin. On Thursday the price rose by $38,741.58.