TL;DR Breakdown:
- Elon Musk said SpaceX wants to send Dogecoin to the literal moon.
- The tweet got the cryptocurrency up by over 30 percent.
Musk’s tweets on his favorite cryptocurrency, Dogecoin (DOGE), are becoming common amongst crypto users. In most cases, he managed to trigger an uptick in the market price of the cryptocurrency through these tweets. This time, the founder of SpaceX and Tesla tweeted on Thursday about sending Dogecoin to the moon.
He precisely wrote that “SpaceX is going to put a literal Dogecoin on the literal moon.”
Judging by Elon Musk’s words, the tweet is likely to be a joke. Many people shrugged-off the tweet today as one of the April fool’s jokes. However, it’s also worth mentioning that rumors claimed that Elon Musk might place a Bitcoin or Dogecoin logo on SpaceX rocket ships when they are ready for launching into Mars.
Elon Musk effect: DOGE looks good
Whatever be the reason for Elon Musk’s tweet got the meme cryptocurrency looking good. The price of Dogecoin spiked shortly after the message from the founder of SpaceX. During press time, the cryptocurrency was trading at $0.06952 on Coinmarketcap, representing about a 32 percent value increase over the last 24 hours. DOGE is also up by over 30 percent on the weekly chart.
The market capitalization sits around $8.8 billion.
Aside from Dogecoin, the tech billionaire is also a Bitcoin investor. Recently, Elon Musk’s electric car company, Tesla, invested about $1.5 billion in Bitcoin, joining the list of other big-name companies with BTC in their balance sheet. According to Coingecko’s list of Bitcoin corporate investors, Tesla’s Bitcoin investment is currently worth over $2.8 billion, following the price of BTC at over $58,700.
