Elon Musk's tweets cause Dogecoin price to spring upwards

A series of tweets from Tesla and SpaceX CEO Elon Musk has caused the meme-cryptocurrency known as Dogecoin to spike in value.

@JakConnorTT

Published Jul 5, 2021 5:30 AM CDT
Updated Aug 3, 2021 4:04 AM CDT

53 seconds read time

Dogecoin has seen a recent uptick in its value after Tesla, and SpaceX CEO Elon Musk posted a few tweets to his Twitter page.

On July 1, Musk took to his Twitter to post a play-on-words tweet that replaces the word "shark" with "doge". The tweet references the extremely popular "Baby Shark Dance" that has nearly been viewed 9 billion times since it was posted to YouTube in 2016. That tweet from Musk directly correlates to Dogecoin's price spike by nearly 10%.

The following morning Musk followed up with another tweet that was a meme referencing The Godfather and a caption that reads, "Release the Doge!". It seems that the latest string of tweets from Musk has been impactful to the price of Doge, but not as impactful as they once were. Back in April, Musk let loose a series of tweets that caused the price of Dogecoin to more than $0.40. For more information on this story, check out this link here.

Elon Musk's tweets cause Dogecoin price to spring upwards 02

NEWS SOURCE:newsbtc.com

Jak Connor

Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.