Dogecoin rallies over 25% after Elon Musk's tweet; Here's why
Elon Musk has proclaimed his fondness for the memecoin Doge previously as well. He is often called as 'Dogefather' because of his affinity to the cryptocurrency.
- Nov 1, 2022,
- Updated Nov 1, 2022 1:15 PM IST
Tech billionaire Elon Musk has yet again caused a pump in the prices of Dogecoin, the popular meme cryptocurrency. Musk tweeted an image of a dog wearing a t-shirt with the Twitter logo along with a Halloween pumpkin and this tweet caused has a sharp rally in the prices of Dogecoin.
Musk tweeted:
After the tweet, Dogecoin gained around 26 per cent. The meme token was trading at $ 0.12 at 9:46 AM on Tuesday, just before Musk's tweet. The token gained 25.90 per cent and peaked at $0.147 at 11:55 AM.
Crypto enthusiasts are taking it as a sign of integration of Dogecoin with the Twitter ecosystem.
A user tweeted:
Several other users tweeted that Doge would be the official cryptocurrency of Twitter. Their tweets read:
Some crypto traders also shared images of the Doge candlestick chart.
Another user tweeted:
Dogecoin was trading at $0.1452 at 12:52 PM, up 23.48 per cent. Its 24-hour trading volume stood at $7,041,252,942.
Tech billionaire Elon Musk has yet again caused a pump in the prices of Dogecoin, the popular meme cryptocurrency. Musk tweeted an image of a dog wearing a t-shirt with the Twitter logo along with a Halloween pumpkin and this tweet caused has a sharp rally in the prices of Dogecoin.
Musk tweeted:
After the tweet, Dogecoin gained around 26 per cent. The meme token was trading at $ 0.12 at 9:46 AM on Tuesday, just before Musk's tweet. The token gained 25.90 per cent and peaked at $0.147 at 11:55 AM.
Crypto enthusiasts are taking it as a sign of integration of Dogecoin with the Twitter ecosystem.
A user tweeted:
Several other users tweeted that Doge would be the official cryptocurrency of Twitter. Their tweets read:
Some crypto traders also shared images of the Doge candlestick chart.
Another user tweeted:
Dogecoin was trading at $0.1452 at 12:52 PM, up 23.48 per cent. Its 24-hour trading volume stood at $7,041,252,942.