‘Dojo 4 Doge’: Elon Musk’s Dogecoin Tweeting Spree Continues

Source: Shutterstock

Tesla owner has once again tweeted on his favorite meme-based cryptocurrency, Dogecoin. This time, just three words: “Dojo 4 Doge.”

Elon Musk’s followers and the Reddit legion have started speculating on this tweet. Some of them are anticipating that Dojo is a Tesla supercomputer that might power dogecoin going forward.

Mr Musk’s tweets– whether on any stock or cryptocurrencies or any other topic – always set trends.

Earlier this month, he tweeted “Dogecoin is the people’s crypto”. This tweet pushed the meme-crypto coin by almost 68 per cent during the intraday trading session on February 4.

The planet’s wealthiest person has approximately 47.6 million followers on Twitter, and most of them are retail investors. And these retail investors are still counting on the Shiba Inu dog-themed virtual coin and twitting ‘#dogeto$1’.

Let us look at the dogecoin movement and how Musk’s obsession is pushing its market value:

 

Dogecoin (DOGE)

The dog-mascot coin is at a market cap of US$ 7 billion, following a meteoric rise of 916.11 per cent year-to-date (YTD). Its total supply is 128.35 billion. In contrast, bitcoin’s total supply stands at 18.63 million.

Last week, Mr Musk raised his concern for the heavy Dogecoin buyers, claiming “too much concentration” is a problem.

Dogecoin is currently trading at US$ 0.054502 per token, with a one-day volume of US$ 3.52 billion. That means half of the existing volume of the crypto has changed hands in the last 24 hours.

Source: ©B65381 | Megapixl

 

A Glance At Apex Crypto Coin: Bitcoin

 

Bitcoin’s volatile trend has continued this week but with a forward movement. The largest virtual coin moves four steps ahead and takes three steps back.

On Sunday, the coin breached a US$ 58,000-mark for the first time. But by Monday morning, it is trading at US$ 53,700 per token and down by almost 6.5 per cent.

In the first week of this month, Tesla announced on exchanges that it has bought bitcoins worth US$ 1.5 billion. That refueled the giant cryptocurrency’s rally and helped it to claim US$ 1 trillion in market value.

 


Disclaimer
The website https://kalkinemedia.com/ca is a service of Kalkine Media Incorporated (Kalkine Media), Business Number: 720744275BC0001. The principal purpose of the content on the website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK