Elon Musk Is Back Tweeting About Dogecoin as Price Rises 50%

Musk was apparently welcoming dogecoin's latest price bounce.

Feb 4, 2021 at 9:39 a.m. UTC
Updated Sep 14, 2021 at 12:06 p.m. UTC

Dogecoin (DOGE) surged more than 50% on Thursday morning to trade around $0.059 per coin.

The news was apparently welcomed by Elon Musk, who made several tweets about the cryptocurrency, despite a pledge two days ago to stay off Twitter for "a while."

In one, Musk shared a "Lion King"-inspired Meme featuring a photoshopped image of himself raising the iconic DOGE Shiba Inu symbol to the sky.

He continued with a string of tweets describing the cryptocurrency as the “people’s crypto” adding, “No highs, no lows, only Doge.”

Such erratic price action is fairly standard for the cryptocurrency. On Jan. 29 DOGE surged more than 800% to about $0.082 per coin, apparently triggered by attention from the Reddit trading groups like WallStreetBets along with a TikTok post about the "dogecoin army" by niche celebrity Carole Baskin from Netflix's "Tiger King." 

In early January, adult actress Angela White also caused DOGE to double in value after she said she was a holder of the cryptocurrency.

DOGE, which was started as a joke in 2013, is now the 12th most valuable cryptocurrency by market value, according to CoinMarketCap.

Musk recently said it would be the most "entertaining and ironic outcome" if dogecoin "becomes the currency of Earth in the future."


Read more about
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
It’s Not Just LUNA. Terra’s DeFi Apps Have Hemmorhaged $28B

Investors have largely exited the Terra ecosystem – now evident in DeFi protocols on the blockchain – and analysts remain skeptical about its long-term prospects.

Investors have largely exited the Terra ecosystem – now evident in DeFi protocols on the blockchain – and analysts remain skeptical about its long-term prospects.

CoinDesk - Unknown
2
CoinDesk - Unknown
Crypto Should Meet Same Norms as Regular Finance, G7 Says

Finance ministers want to see financial stability and money-laundering standards in effect soon, citing recent market turmoil.

Finance ministers want to see financial stability and money-laundering standards in effect soon, citing recent market turmoil.

CoinDesk - Unknown
3
CoinDesk - Unknown
Regulate Ledgers and Not Individual Crypto Providers, BIS Study Says

To make cross-border payments easier, you need to change your whole way of thinking, the authors of the BIS study found.

To make cross-border payments easier, you need to change your whole way of thinking, the authors of the BIS study found.

CoinDesk - Unknown
4
CoinDesk - Unknown
Goldman Sees Little US Economic Impact From Lower Cryptocurrency Prices

The stock market decline has had a much larger effect on U.S. household net worth, the bank said.

The stock market decline has had a much larger effect on U.S. household net worth, the bank said.

CoinDesk - Unknown