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October 2, 2022
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Dogecoin rose more than 10% after Elon Musk’s last tweet

Elon Musk tweeted about Dogecoin [DOGE] today and the meme currency has risen again, even though it may be an April 1st joke.

When Elon Musk, CEO of Tesla, added Bitcoin to his Twitter profile, it caused a sudden “pump” in the value of the digital asset. This time Elon Musk extended his support (again) to Dogecoin [DOGE] today, and a similar pattern has been observed.

“SpaceX is going to put a literal Dogecoin on the literal moon.” Musk said in the tweet.

The tweet sparked a flurry of trading activities at Dogecoin, which immediately took off in just a few minutes. It rose from $ 0.0540 to $ 0.066, breaking any local resistance.

Source: TradingView

However, in the past, with just a word of support from Elon Musk, there had been a great deal of retail interest in the markets. For example, in its previous tweet regarding the sale of Dogecoin on February 15, the value of DOGE fell by almost 26%, from $ 0.0639 to $ 0.0471. He declared:

“If the biggest Dogecoin holders sell most of their coins, that will have my full support. Too much concentration is the only real problem. I will literally pay $ reais if they simply cancel their accounts. ”

Regarding Musk, the tweet was one of the many excerpts related to Dogecoin that he published last year. He once said that it was the “future currency of the Earth” and even said that he had accumulated a battery for his nine-month-old son.

Another thing that is worth remembering is that today is April Fool’s Day. So this tweet can also be a joke – hence the word “literal” in the tweet. This is not the first time that Musk has alluded to putting the coin on the moon. At the end of February, he tweeted a meme of a Shibu Inu in a space suit on the moon holding a Dogecoin flag.

Source: AMBCrypto

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