Tesla and SpaceX CEO Elon Musk’s Twitter posts continue to cause sharp price movements in the markets.
After Musk’s recent Twitter post about Dogecoin, the upward momentum in crypto money continued. The cryptocurrency has surged to about $ 0.82 and its market cap has risen to over $ 10.5 billion.
Dogecoin is among the top 10 cryptocurrencies in market capitalization.
Bitcoin and Ethereum, the two biggest cryptocurrencies that have entered the radar of long-term investors, have also seen peaks again in recent weeks. Bitcoin was traded at $ 38,730 at 1:37 pm Hong Kong time after seeing $ 41,000 over the weekend. Ethereum, on the other hand, fell from its all-time high.
According to Bloomberg’s report, Elon Musk has recently supported the social media rally in crypto by posting tweets about Dogecoin. Musk most recently referred to the song “Who let the dogs out” with the release of “Who let the Doge out”. Musk said in an interview on February 1 that Bitcoin is “a good thing” and his statements about Dogecoin are a joke.
Famous rapper Snoop Dogg tweeted “Snoop Doge”.