In less than 48 hours, World’s richest man Elon Musk is back on Twitter from his self-imposed break. Cryptocurrency Dogecoin, which was volatile in the past few days was supported by the Tesla CEO through his series of tweets. From a Shiba Inu meme that was popular several years ago, and doesn’t have a cap, the name, and logo of cryptocurrency are taken which is backed by Musk.
Market Watch reported that after Musk tweeted a photo of the SpaceX rocket with the Moon in the background, he soon followed it with one word “Doge” which literally shot up the Dogecoin price ‘To the Moon’ as it surged 44% after the tweets.
Musk The New Lion King
Edging towards new all-time highs, Data from Cointelegraph Markets and TradingView showed DOGE/USD rebound past $0.05 per token on Thursday. Musk then tweeted an image of the iconic scene from The Lion King where Rafiki holds up a young Simba — but swapped his face to show him holding up a young Dogecoin adding ‘ur welcome’ to the tweet Shortly after his first tweets and Dogecoin’s initial pump.
As its price kept soaring Musk continued to rally his support behind the company. In another tweet, he said that Dogecoin is people’s crypto. And he followed that there was no need to gigachad to own and there should be no highs or lows but only Doge.
The Tweet on fire
Ð is for Ðogecoin! Instructional video.https://t.co/UEEocOfcTb
— Elon Musk (@elonmusk) February 8, 2021
#ThanksElon also began to trend in the United States and ‘Doge’ dominated Twitter trends worldwide also, many shared memes and jokes about Musk’s love affair with the meme coin company after he went overwhelmed with his Doge advocacy. Seemingly as a joke, Dogecoin is a “meme” cryptocurrency created in 2013.