Crypto users have already witnessed the power of Tesla and SpaceX CEO Elon Musk in fluctuating cryptocurrency prices just by a single tweet.
Since the beginning of the month, Musk is giving a massive shoutout to DOGE coin, The ever-volatile parody cryptocurrency.
Earlier on Thursday, Musk had given Dogecoin yet another shoutout. In his tweet, he asked, “How much is that Doge in the window?” The picture posted by Elon had a laptop with a sticker for it. Strangely the sticker was a dollar note, but with a Shiba Inu canine rather than President George Washington.
Following this tweet, Dave Lee, YouTuber on Investing and TSLA investor since 2012, tweeted that
To clarify, I don’t think Elon would ever sell any his Doge holdings. He’s the ultimate hodler.
To which Musk replied, “Yeah, I haven’t & won’t sell any Doge“
Soon after responding to this thread, Musk sent dogecoin value shooting up 15%.
Dogecoin specifically is known for its cost variances, moving now and again when personalities like Musk tweet about it. In February, Musk sent Dogecoin up by 25% in minutes with a single tweet. In March, he posted another tweet saying his space exploration company will put Dogecoin on the “literal” moon, making it hop 30%.
His tweets on Dogecoin have turned the meme coin into a valuable asset. Crypto Investors believe that Elon sees DOGE hitting the much-pined one-dollar mark shortly. If it does, it will be a tremendous achievement for the crypto.
While the DOGE is exploring its newfound peak, Bitcoin, Ethereum, and altcoins had a significant crash on Wednesday they dropped by twofold digits. It seems Tesla, as indicated by Musk’s tweet, won’t sell its reserve of bitcoin. However, The company recently stopped accepting bitcoin for its vehicles because of environmental issues, which led to its significant drop.
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