Tesla boss Elon Musk is known for influencing the sudden growth of cryptocurrencies, which could be in the form of tweets or investments.
SpaceX To Put DOGE On The Moon
In a tweet today, Musk noted that one of his companies, SpaceX, will put “a literal Dogecoin” on “a literal moon.”
SpaceX is going to put a literal Dogecoin on the literal moon
— Elon Musk (@elonmusk) April 1, 2021
Indeed, the post led the cryptocurrency to the moon, as it spiked by 35% within minutes after the tweet was made. The meme-inspired token’s value reached a stunning $0.07 before plummeting to $0.06, as at the time of writing.
DOGE Gains 1,500% In 3 Months
Based on the significant growth of DOGE, it is up 1,500% since the beginning of the year. The token, like a few other altcoins, did not begin the year on a good note. Data on Coingecko showed that DOGE was at $0.004 on January 1st.
However, many DOGE enthusiasts felt disappointed after the Tesla boss abandoned the token to purchase a groundbreaking $1.5 billion worth of Bitcoin (BTC). Meanwhile, Musk said in February that he would give his full support to Dogecoin if whale holders sold their bags.
This is not the first time Musk will be publicly supporting Dogecoin. Musk, who recently renamed himself the “Technoking of Tesla” has been declaring his support for Dogecoin since 2017. His comments about the token have been key to its growth.