Elon Musk Sends Dogecoin Soaring With Single Tweet

Barking mad.

Elon Musk Sends Dogecoin Soaring With Single Tweet

Image Credit: @elonmusk

Elon Musk has just lived up to his trollish reputation with a naughty, naughty tweet. That Tweet? An image of a Shiba Inu dog – the mascot of Dogecoin, the joke cryptocurrency that Musk has a history of talking about.

Elon Musk, not content with throwing shade at those who fear his free speech ideals, has today stirred up another flaming mess on Twitter, posting the following photo, alongside the winky face emoji (the same text icon popular with f*ckbois and Frenchmen).

In the photo, the dog can be seen looking back at the camera, over its shoulder, wearing a Twitter shirt, and sitting next to a pumpkin with the Twitter symbol on it. At the time of writing it has 27.4k retweets and 282k likes.

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The usual cavalcade of meme coins and con artists quickly jumped into the comments section promoting their wares and trying to piggyback off the eccentric billionaire’s thumbing of his phone.

Dogecoin price chart, last six months. Image: Coindesk

According to Coindesk figures, Dogecoin jumped to a monthly high after the Tweet (it had already enjoyed a spike after the news Elon had taken over Twitter), reaching a price point not seen since May. It’s still not as high as the stratospheric heights it saw in 2021, but compared to the last few ‘crypto winter months‘ it’s quite high again.

WATCH: Elon Musk & Mark Cuban discuss the potential applications of Dogecoin

Though Elon’s bizarre fondness for Dogecoin defies explanation, he has previously said: “Fate loves irony… wouldn’t it be funny if the thing that was designed to be a joke currency ended up being the real currency?”

A Brief History of Elon’s DOGE Moving Tweets

  • December 20, 2020: Musks tweets ‘One word: DOGE’ — the price spiked 25%
  • February 4, 2021: Musk makes multiple tweets about DOGE —  the price surged over 60%
  • May 9, 2021: Musk calls DOGE “a hustle” on SNL — the price tanked over 30% in a few hours.
  • May 12, 2021: Musk tweets Tesla won’t accept bitcoin as a payment — crypto markets fell 25% in the following days. 
  • December 15, 2021: Musk tweets that Tesla will accept DOGE — the price surged 25%
  • November 1, 2022: Musk tweets photo of a Shiba Inu dog wearing a Twitter shirt next to a pumpkin. Time will tell how much it surges (or if it drops straight away again).

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