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Elon Musk Is Back Tweeting About Dogecoin as Price Rises 50%
Musk was apparently welcoming dogecoin's latest price bounce.
Dogecoin (DOGE) surged more than 50% on Thursday morning to trade around $0.059 per coin.
STORY CONTINUES BELOW
The news was apparently welcomed by Elon Musk, who made several tweets about the cryptocurrency, despite a pledge two days ago to stay off Twitter for "a while."
In one, Musk shared a "Lion King"-inspired Meme featuring a photoshopped image of himself raising the iconic DOGE Shiba Inu symbol to the sky.
ur welcome pic.twitter.com/e2KF57KLxb
— Name (@elonmusk) February 4, 2021
He continued with a string of tweets describing the cryptocurrency as the “people’s crypto” adding, “No highs, no lows, only Doge.”
Such erratic price action is fairly standard for the cryptocurrency. On Jan. 29 DOGE surged more than 800% to about $0.082 per coin, apparently triggered by attention from the Reddit trading groups like WallStreetBets along with a TikTok post about the "dogecoin army" by niche celebrity Carole Baskin from Netflix's "Tiger King."
In early January, adult actress Angela White also caused DOGE to double in value after she said she was a holder of the cryptocurrency.
Read more: Hot DOGE! Meme-Based Cryptocurrency Soars More Than 800% to Record High
DOGE, which was started as a joke in 2013, is now the 12th most valuable cryptocurrency by market value, according to CoinMarketCap.
Musk recently said it would be the most "entertaining and ironic outcome" if dogecoin "becomes the currency of Earth in the future."
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
