The world’s richest person, Tesla‘s Elon Musk, caused quite a stir throughout the Cryptoverse again, with his series of posts about dogecoin (DOGE), calling it “people’s crypto.” (Updated at 09:35 UTC: updates throughout the entire text.)
Musk is back from his brief Twitter hiatus, and he tweeted a picture of an ascending rocket with just one word: ‘Doge’.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Last week, Musk stated that he must be careful when talking about cryptocurrencies because his words could move the market.
The 12th cryptocurrency by market capitalization (per Coingecko), DOGE, jumped from USD 0.040 to USD 0.0576 in less than an hour before dropping to USD 0.0477. At the time of writing (09:31 UTC), DOGE trades at USD 0.0489 and is up by 51% in a day. It’s still down by 39% from its all-time high, reached 6 days ago.
DOGE price chart:
“Occasionally, I make jokes about dogecoin, but they really just meant to be jokes. Dogecoin was made as a joke to make fun of cryptocurrencies obviously,” Musk said last week, adding that “the most ironic outcome would be that dogecoin becomes the currency of the Earth.”
Meanwhile, Musk removed the Bitcoin (BTC) symbol he had put in his Twitter bio last week, which also caught the Cryptoverse’s attention.
Elon candle pic.twitter.com/aCzHEyiV66
— CryptOrca (@CryptOrca) February 4, 2021
— KING CO฿IE (@CryptoCobain) February 4, 2021