Dogecoin Surges after Elon Musk’s Effect

Dogecoin (DOGE) has made a surge in price within the last 24 hours after the Chief Executive Officer of electric automobile company; Tesla made a tweet via his twitter handle (@elonmusk). This is actually not the first time that the crypto community is witnessing this pump effect after CEO Elon makes a tweet relating to Doge.

Not the First Time Doge Soars after Musk’s Tweets

The first time he made a comment about $Doge that sent the price of the asset soaring was back in February this year, 2021. He made a series of tweet about the crypto asset back in February. One in which he stated “no highs, no lows, just Doge”. In another he stated that the cryptocurrency was the people’s crypto;

In same month, he also added Bitcoin to his bio on twitter and that pumped the price of the first cryptocurrency by market cap. This saw to a number of crypto influencers and traders following same suit.

Doge Enjoys Musk’s Effect Again

Consequently, history is almost repeating itself again as $Doge has witnessed more than 200% percent increase in price with a new All-time high at 0.48 all thanks to the tweet from the Tesla CEO, Elon Musk. In the tweet he wrote; “Dog Barking at the Moon”;

At the time of writing the coin is currently trading at $0.35 per $Doge. Elon has become the most important fan of the Dogecoin and his tweets are looked forward to by retail traders in the crypto space so as to FOMO in and make profits. This could be evident in the increase in the buying volume since the tweet was made yesterday by the chief executive.