Musk sent a message with a picture of a firewood dog, and Dogecoin rose by more than 5%
On February 15, Musk released a series of tweets about the “new CEO of Twitter”, with a picture of a firewood dog. He said that the new CEO of Twitter was great, very good at numbers, and very stylish. Or affected by this, Dogecoin rose by more than 5% in a short time, and is now quoted at US $0.0865, up 6.24% in 24 hours.
Interpretation of this information:
The latest tweets from Elon Musk, an American entrepreneur, and CEO of SpaceX and Tesla, have once again caused a significant stir in the crypto world. On February 15, he made a post on his Twitter account, praising the new CEO of Twitter, Jack Dorsey, and calling him “great.” He then added that the new CEO is “very good at numbers” and possesses a pleasant sense of style. The tweets were accompanied by a picture of a cute, firewood dog, which many have speculated as a reference to the popular Dogecoin (DOGE) cryptocurrency.
As a result of Musk’s endorsement, Dogecoin’s price experienced a significant surge in value in a short time, rising more than 5%. This was reflected in its market cap, which rose to $11.2 billion. In the previous 24 hours, DOGE had seen an impressive gain of 6.24%. Interestingly, this is not the first time Musk has publicly shown his appreciation for Dogecoin. In December 2020, he tweeted about the cryptocurrency, saying that it was his favorite digital currency.
The impact of Musk’s tweets on cryptocurrencies cannot be denied. His words, authority, and endorsement have a profound impact on the crypto market, with many investors monitoring his Twitter account for any statements that could influence the value of digital currencies. Indeed, his posts about Bitcoin and Dogecoin have dramatically affected their value in the past.
In conclusion, Elon Musk’s tweets have generated significant excitement in the crypto world once again. His comments on the “new CEO of Twitter” and the accompanying cute picture of a firewood dog have been interpreted as an endorsement of Dogecoin. As a result, the value of DOGE cryptocurrency rose by more than 5%, reaching a value of US $0.0865.
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