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Electric car maker Tesla has just reaped the fruits of their crypto endeavor as they revealed that they’ve made over $100 million profit from the $272 million worth of Bitcoin (BTC) that they’ve cashed out during Q1 of 2021. The crypto community is also well-aware that its owner – billionaire Elon Musk – is also a strong advocate of the meme digital currency that is the Dogecoin (DOGE). It looks like his fascination with the DOGE continues to work wonders as its price surged anew.
‘The Dogefather’
Dogecoin’s latest price hike is believed to have been linked to the Tesla CEO’s recent tweet. For the uninitiated, Musk will be guest hosting the May 8 episode of “Saturday Night Live” (SNL) as his tweet came alongside the proclamation deeming himself as the “Dogefather.”
This teaser of a post may well seem to have hyped up the dogecoin traders out there thinking that the meme crypto will be getting a huge spotlight since the show’s got some massive audience under its belt. As of writing, the DOGE’s price sits at $0.30 from the previous $0.25 which is a 20 percent jump.
Forbes noted that earlier this month, the Dogecoin peaked an all-time high of $0.40 which according to the publication was a 5,000 percent increase prior to its “pre-pump price” in late January.
Musk, on the other hand, was even hailed “Dogecoin CEO” in 2019 through a Twitter poll and since then has continuously popping up the Shiba Inu-based crypto’s price.
More DOGE transactions for Cuban’s Mavs
The Coin Republic previously reported that just like Musk, fellow billionaire and Dallas Mavericks team owner Mark Cuban also sees a strong potential in DOGE as his enthusiasm with the currency is very much evident in his recent guesting on “Ellen.” He also said that the Mavericks are on track to do 6,000 transactions this month.
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.
