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Dogecoin Price Jumps After Elon Musk’s ‘Trillionaire’ Tweet

It’s a time-tested maxim within the cryptocurrency trade: when Elon Musk tweets about Dogecoin , the worth normally goes up . And it occurred once more at present.
On Friday afternoon, the favored UberFacts Twitter account—with greater than 13 million followers— tweeted , “Elon Musk is predicted to become the world’s first trillionaire, thanks to SpaceX.”
Spotting yet one more alternative to interject certainly one of his favourite meme matters, the SpaceX and Tesla CEO replied , “*In Dogecoin.” Musk, who has greater than 61 million Twitter followers of his personal, has racked up tens of hundreds of interactions on the tweet in about an hour, as of this writing.

*In Dogecoin
— Elon Musk (@elonmusk) October 22, 2021

As we’ve seen many occasions previously , the market reacted rapidly to Musk’s tweet, with DOGE’s value leaping about 5% in lower than an hour, per CoinGecko. Currently, the worth of the main meme coin is hovering above $0.25, and the coin is up 7% during the last seven days, and about 25% during the last month.
Musk is a longtime fan and proponent of Dogecoin, and has repeatedly tweeted about it by means of memes and jokes.

He’s referred to as himself “The Dogefather” and even referenced DOGE on “Saturday Night Live” throughout his May internet hosting look. Musk even briefly deliberate to promote a Dogecoin-inspired NFT collectible, however in the end modified his thoughts .
Musk is additionally working with the builders of Dogecoin to attempt to enhance the cryptocurrency, and make it a less expensive and extra energy-efficient various to Bitcoin .
Elon Musk Tweets Pump Dogecoin But Not Bitcoin: Research
The crypto market entered a summer-long stoop in May quickly after Tesla introduced that it could cease transacting Bitcoin , due to the environmental affect of mining.

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