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Dogecoin Surges Twenty Five Percent After Elon Musk Tweet

Elon Musk has recently tweeted about Dogecoin again as DOGE surges approximately twenty five percent on crypto exchange Binance. The price of Dogecoin upsurged by around twenty five percent on 20th December as Tesla and SpaceX CEO Elon Musk once again tweeted about Dogecoin. 

Musk and his interest toward the meme inspired cryptocurrency has been making speculations from a long time. It is to be noted that every once in a while, the SpaceX CEO tweets about Bitcoin and the digital asset bourses.

Previously, Musk tweeted about Dogecoin in the month of July this year. At the time, when he mentioned that he anticipates a “Dogecoin standard future”, the coin upsurged by around fourteen percent.

According to digital asset researcher Hasu,

“Prices in this space are fueled by attention.”

Recently, Musk tweeted

“One word: Doge”.

His tweet led to a delirium amongst Twitteratis. Dogecoin began to trend on the social network, particularly as Musk altered his Twitter bio to “Former CEO of Dogecoin.”

As per data from CoinMarketCap, Dogecoin has a market capitalization of over $572 million, at the time of reporting. Moreover, it is trading at 0.0045 USD, at press time and showing a gain of 13.1% in the last 24 hours. Furthermore, Dogecoin is sitting at a rank of 43 on coinmarketcap.

What do you think about the effect on Dogecoin’s price because of Musk’s tweets? Let us know in the comments below!

Image by Jan Helebrant from Pixabay

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