‘Who Let the Doge Out’: Elon Musk’s tweet that did wonders for Dogecoin

February 11, 2021 12:23 AM PST | By Team Kalkine Media

‘Who Let the Doge Out’: Elon Musk’s tweet that did wonders for Dogecoin

Musk Tweets About Dogecoin

Dogecoin shot into the limelight after Tesla and SpaceX CEO Elon Musk tweeted about the currency, saying – Who Let the Doge Out. A series of successive tweets by the Tesla CEO and many other prominent personalities, including Snoop Dogg and Gene Simmons, have taken the currency to sky-high.

In the latest series of tweets, the SpaceX founder highlighted Dogecoin as people’s currency, which provided the currency a sentimental push. Additionally, he tweeted the purchase of Dogecoin for his newborn, saying – Bought some Dogecoin for lil X, so he can be a toddler hodler.

These tweets and many others by other prominent names made the currency buoyant in the market, taking its market size to more than USD10 billion. Dogecoin is now the 10^th-largest digital coin on CoinMarketCap’s ranking.

Musk Extends Support to Cryptocurrency

The support from Elon Musk follows an announcement covering Tesla and Bitcoin. It seems that finally the discussion between Mr Musk and renowned Bitcoin investor Michael J. Saylor (MicroStrategy) unfolded with Tesla announcing a USD1.5 billion investment in the cryptocurrency space.

To Know More, Do Read: Bitcoin Hits Record $44,500-Mark On Tesla’s $1.5-Billion Investment

Furthermore, Tesla has decided to accept cryptocurrency as a valid method of financial transaction. This means that the EV maker plans to accept Bitcoin payments for its cars, providing a boost to the overall cryptocurrency space.

Mr Musk has consistently thrown his weight behind Bitcoin, citing that the currency is almost on the verge of broad acceptance.

Furthermore, retail investors seem to have jumped on the bandwagon after taking a cue from the Tesla CEO’s tweets and his support to the cryptocurrency world, leading to a massive rally in Dogecoin while providing many other cryptocurrencies a cushion.

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