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- Elon Musk sparks bullish rallies for cryptocurrency by influencing his fans
- A tweet of Elon helps the price of DOGE token to skyrocket by more than 50% in a few hours
- Musk is found favoring cryptocurrency as it the industry is getting mainstream attention
DOGE token surges after Elon Musk, the CEO of Tesla favors the token on Thursday. On Tuesday, Musk tweeted to stay off Twitter for a couple of days. He favors Dogecoin (DOGE) after returning to the platform. Then Musk shared a meme
holding the token and the token’s value skyrocketed. On the same day after the tweet, Dogecoin tremendously surged by more than 50%.
Musk’s take on cryptocurrency and hike of DOGE
Elon Musk is now having the magic of changing firms’ fate and moving the market with just words. His recent tweet has resulted in a surge in the price of the DOGE token. When the Tesla CEO talked about the token earlier, the price hike was similar to the 80% and 500%. Due to the high number of tweets, the DOGE price has surged by more than 75%, leaving Bitcoin to only 25% and Ethereum 30%.
In general, Elon is also observed favouring the flagship crypto token. Musk believes that crypto assets are soon going to be widely adopted by every individual. Late last month, he also updated his Twitter bio writing “#Bitcoin“. Indeed, the update helped BTC to surge by 14%, and there are instances that Elon is planning to take DOGE to the moon and beyond.
Elon Musk sparking the bullish rally of the cryptocurrency
After two days of being silent, Elon returned building an uproar on Twitter by endorsing DOGE tokens. This is not the first time that a billionaire’s comment on cryptos resulted in a massive price strike. Recently when the privacy rules of WhatsApp came out, Elon tweeted
to use signals. After the tweet, it was observed that the price of the shares surged by more than ten times, making a more considerable impact on its popularity and user base.
Elon is also posting about some other products, and the price of those shares are going towards the moon. Following the instances, Elon Musk can observe what kind of influence is being created among his fans and masses.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
