‘Musk did Musk again’…’Dojicoin’ pierced the roof after mentioning on Twitter

Input 2021.02.08 11:35

In a tweet by Elon Musk, Tesla’s CEO, the cryptocurrency Dogecoin hit an all-time high, Bloomberg News reported on the 7th (local time).

Dogecoin is a cryptocurrency created by software developer Billy Marcus in 2013. In the beginning, Marcus made a’meme (picture or video imitating buzzwords and actions on the Internet)’ with pictures of Shiba inu popular at the time. The name’doge’ was given by adding the letter e to the word’dog’ for dog.

According to Bloomberg, Doge Coin surpassed 8 cents from 2.5 cents in a week. According to CoinMarketCap data, Dogecoin surged 53% over the last 24 hours as of 5:45 PM Eastern Time in the United States. Dogecoin is currently the 8th largest cryptocurrency with a market value of 10 billion dollars.

Bloomberg analyzed that “the price has recovered after Musk sent a series of tweets promoting Dogecoin over the past week.”

On the 29th of last month, Musk uploaded the image of the fake magazine’DOGUE’ on his twitter on the 29th of last month by imitating the cover of the fashion magazine’Vogue’. At the time, when online communities such as Reddit talked about creating a’crypto version of GameStop’, the transaction volume was increasing rapidly.

Reddit users accepted Musk’s tweet as a signal to buy Dogecoin, and the value of Dogecoin jumped more than 800% during the day.

On the 4th, Musk posted a tweet calling Dogecoin “everyone’s cryptocurrency” and the price of Dogecoin soared more than 50%.