Dogecoin Pumps 8% After Elon Musk Says He’s Still Buying

Dogecoin Pumps 8% After Elon Musk Says He’s Still Buying
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Dogecoin Pumps 8% After Elon Musk Says He's Still Buying
Dogecoin Pumps 8% After Elon Musk Says He's Still Buying 3

Even amid a brutal bear market, a Musk support tweet on Dogecoin predictably gives the best-known meme coin a brief price surge.

As the current crypto defeat proceeds, Bitcoin and Ethereum are both down 30% over the course of the last week and the whole crypto market cap tumbled to $830 billion. In any case, Elon Musk proclaimed he will “continue to help Dogecoin.”

That was sufficient to make DOGE spike 8% to $0.058.

Obviously, 5.8 pennies is a long ways (a 91% drop, to be precise) from the 72 pennies DOGE contacted in May of last year, when Musk facilitated “Saturday Night Live” and DOGE got a notice in his initial speech and on Weekend Update. (“It’s a hustle,” Musk answered Michael Che’s inquiry concerning DOGE.)

Musk has been Dogecoin’s most high-profile team promoter since April 2019 when he tweeted, “Dogecoin might be my fav digital money.” Throughout 2020 and 2021, Google looks for Dogecoin spiked each time Musk tweeted about the image coin. In May 2021, Decrypt detailed that Dogecoin designers had even been in close contact with Musk about transforms he needed made to the code.

Dogecoin Pumps 8% After Elon Musk Says He's Still Buying
Dogecoin Pumps 8% After Elon Musk Says He's Still Buying 4

All the more as of late, Musk (alongside Mark Cuban) has supported for the utilization of DOGE for installments, which would make the joke coin a genuine utility and to a lesser degree a joke.

Furthermore, in his new offered to purchase Twitter, Musk has over and over expressed one of the prompt elements he’d execute is Dogecoin tipping (Twitter at present just backings tipping in Bitcoin) and the acknowledgment of DOGE as installment for premium administrations like Twitter Blue.

It’s difficult to witness what might have to for DOGE to return to 72 pennies while it’s lounging around a nickel, however on the off chance that Musk continues siphoning it, the sky is the limit.

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