Thursday, 4 February 2021

World Richest Man, Elon Musk Endorses Dogecoin


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Investors in dogecoin should now smile, as it has just been approved by the richest man in the world, Elon Musk.

Using his first tweet to announce the launch of new Starlink satellites, he quickly backed Dogecoin, which is a joke and a real, functional cryptocurrency.

World Richest Man, Elon Musk Endorses Dogecoin


Elon Musk had said on Tuesday that he would be “off Twitter for a while”. The break appears to have lasted less than two days, and he returned with a series of posts about the cryptocurrency.

“Dogecoin is the people’s crypto,” he wrote on Twitter. “No need to be a gigachad to own.

“No highs, no lows, only Doge.”

The price of the fast-rising crypto has recorded significant gains after Elon Musk tweeted.

At the time of writing this report, Dogecoin traded at $0.05229 with a daily trading volume of $6.3 billion. Dogecoin is up 66.04% for the day.

He then posted a picture of himself that included the Shiba Inu dog at the centre of the doge meme, which is also the logo for the cryptocurrency itself.

The posts had received tens of thousands of retweets within minutes of publishing.

As usual, the tweets led to the price of the dogecoin to surge. It was up more than 75 per cent soon after Mr Musk’s tweets.

Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo.

The coin is currently rising after the endorsement, Bitcoin is also rising to get close to $40,000, Ethereum is also rising. The cryptocurrency market is green at the moment.



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