After Elon Musk's support of Dogecoin on Twitter, the Cryptocurrency Rises 50 Percent
Hello, fellow Steemit users. Cryptocurrencies are at a continuous rise and fall nowadays. Many new cryptocurrencies are coming up and with them, many more options to trade are opening. However, the recent breaking news which shocked many people in the cryptocurrency and the market world is the surge of Dogecoin after a recent post by Elon Musk regarding it on Twitter.
Well, it might amuse everyone that the No. 12 cryptocurrency with a market cap of $6.1 billion is nothing more than a joke. Dogecoin (DOGE) which started of as a joke in 2013 has risen considerably since then.
The coin saw the same huge increment wave as the stocks like GameStop and AMC saw over the last few weeks. And this credit goes to nothing more than a handful of tweets by Elon Musk. The coin had recently become the most tweeted crypto in a single day and it beat even Bitcoin.
Musk tweeted late this Wednesday night saying, "Dogecoin is the people’s crypto. No highs, no lows, only Doge." and then if this wasn't enough to make it rise, he also added a meme of himself with reference to the Dogecoin which made the investors go nuts. The meme was inspired by the Lion King movie. It originally was monkey Rafiki holding up baby Simba in his hands. Elon replaced monkey Rafiki with his own head and replaced Simba's with the Doge head.
Well, the cryptocurrency rose at the drop of a hat just moments after this tweet went viral. Even though Elon Musk had said that he occasionally made jokes about Dodge coin but they are only meant to be jokes, but still the people tend to take his actions very seriously.
It would be interesting to see what other future developments will happen in this world of cryptocurrency. Stay tuned to find out.
Thank You.
This post is set to 100% power up.
@steemcurator01
@steemcurator02
@bestofindia
@steemitblog
@steemcurator07
@booming01
@rishabh99946
Thanks for promoting Steem by sharing you post on twitter
( If you no longer want to receive notifications and upvotes from us, reply to this comment with the word
STOP)Here is the link to my tweet
https://twitter.com/Vaibhav35079677/status/1357678579182624771?s=19
Here is the ss of my tweet
It look like dogecoin and bitcoin are the favorite coin of elon musk. what you say?
#affable #onepercent #india
Yeah they sure are XD