The DOGE cryptocurrency, which started out as an online joke, jumped 46% earlier today, of course, after a tweet from entrepreneur Elon Musk, which brought it to a rate of $ 0.048. Musk began his series of tweets on the coin with a simple tweet of his name, Doge, and what came later would fuel the rises even more.
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Musk’s next tweet was “Dogecoin is the people’s crypto currency”, and then shared with the masses following another insight: “No ups, no downs – just Doge”. Then the next post was already accompanied by a picture, a meme from the Disney classic “The Lion King”, in which Musk, in the character of Rafiki from the movie, waves a dog, which symbolizes the coin, as if it were Simba. “There’s nothing for it,” Musk wrote.
Musk’s previous tweets about the currency in December have caused gains as well. Last week Musk changed the details of his biography on Twitter and wrote “Bitcoin”, which led to significant increases among cryptocurrencies.
Musk said earlier this week on Clubhouse that his tweets about the Doge were just a joke. But the current tweets can also be interpreted as acknowledging that his own words influenced the exchange rate, and ostensibly he could not claim that he was unaware of its impact on the market. He added at the time that “the most amusing, and most ironic, result would be if in the future the dogecoin eventually becomes the currency of the entire world in the future.”
The esoteric coin was created in 2013 as a humorous paraphrase of the use of digital coins, with the name chosen as a tribute to the popular meme of its time, in which a returning-type dog is seen. Last week, the currency rose by about 500% after some of the private investors from the Wall Streetbreads forum, those who flew the GameStop stock, chose to put their money in it as well.
Musk throws stocks up and then they crash. In the tweet in question, Musk actually admits that he runs stocks. Will the authorities intervene?
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