Dogecoin jumps 25% after Elon Musk’s one-word tweet about hot cryptocurrency | Currency News | Financial and business news

Dogecoin is a cryptocurrency based on the Doge meme, and it apparently started out as a joke

Elon Musk is tweeting about dogecoin again, this time sending the 25% meme-based coin on Wednesday with a single word tweet.

The CEO of Tesla and the President of SpaceX released a tweet at 8:00 am ET with just one word: “Literally.”

The same tweet was appended to a photograph of the famous Shiba Inoue in space in a spacesuit, planting a flag with the word “Wow”.

Follow up after 10 minutes, billionaire chirp: “On the actual moon.”

Dogecoin As of 10:17 AM ET on Wednesday, it is trading up 23.11% to $ 0.0581.

Wed is not First time A tweet from Musk sparked a rally in Dogecoin, and neither did she Secondly. The Internet has invented the term “Musk Mov“To seize the billionaire’s huge influence in transferring prices for everything from Bitcoin to GameStop to me Etsy.

On February 19 it caused Another jump in the Dogecoin price After, after chirp To his 46 million followers he bought some for his nine-month-old son. Dogecoin’s price increased by as much as 16% after the tweet.

Few days before that, Musk encouraged major investors, Also known as whales, to sell their shares, adding that he believes the focus among a small number of owners is the only “real problem”.

Dogecoin, which started out as a joke in 2013, has been propelled to fame thanks to well-known supporters like Musk, as well as rapper Snoop Dogg and Kiss Gene Simmons member. For a while, Dogecoin has been hovering around a $ 10 billion market valuation, making it even more valuable Well known companies.

Unlike Bitcoin, there are an unlimited number of Dogecoin.

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