Elon Musk’s tweet causes Dogecoin to pop

• At press time, Dogecoin (DOGE) was buying and selling at $0.07018 up 3.13% within the final 24 hours.
• Elon Musk right now talked about “doges” in a tweet.
• Apart from Dogecoin, Musk’s tweet additionally precipitated Shiba Inu to a each day excessive of  $0.00000784.

Effectively-known dog-themed meme coin Dogecoin (DOGE) right now surged to a each day excessive of $0.07121 after Elon Musk talked about “Doge” in certainly one of his tweets right now.

Musk’s publish precipitated the worth of DOGE to surge from $0.069 to $0.07121 in seconds earlier than shortly giving up among the beneficial properties afterwards.

Doges ftw pic.twitter.com/bl0trQ7BdU

— Elon Musk (@elonmusk) July 19, 2023

Elon Musk’s historical past with meme cash

Apart from Dogecoin, Elon’s tweet additionally precipitated the worth of Shiba Inu (SHIB) to additionally pop.

This isn’t the primary time the crypto markets are reacting to Elon Musk’s tweets. The markets have a protracted historical past of responding shortly to Elon Musk’s public feedback about cryptocurrencies generally and Dogecoin particularly.

When Musk unveiled an AI-focused firm final week to compete with ChatGPT, a widely known chatbot, it precipitated tokens associated to synthetic intelligence to soar.

Given his explicit curiosity in DOGE, there may be hypothesis within the cryptocurrency group that Musk could possibly be a major DOGE holder. Musk’s curiosity in DOGE got here to the limelight when he appeared on “Saturday Night time Dwell” in Might 2021, and devoted a while to the meme coin inflicting its value to surge to its all-time excessive value of 73 cents.

Immediately’s tweet mentioning doge got here forward of Tesla (TSLA) second-quarter earnings report anticipated to be launched later Wednesday afternoon.