Elon Musk’s tweet doubled the value of Dogecoin cryptocurrency

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Elon Musk’s tweet doubled the value of Dogecoin cryptocurrency

For the second time in a week, the value of the Dogecoin cryptocurrency renews its record value. This time, the price of one Dogecoin on the Binance cryptocurrency exchange reached $ 0.298. This was facilitated by a tweet from Elon Musk, who posted on his account a painting by the Spanish artist Joan Miro “A dog barks at the moon,” and accompanied it with the caption “Doge barks at the moon

Dogecoin
Dogecoin

Over the past few days, this is the second significant leap in cryptocurrency, the logo of which depicts the face of a Shiba Inu dog. At the beginning of the week, the cost of one Dogecoin was below $ 0.1. This is not the first time Elon Musk’s tweets have raised the value of a cryptocurrency that has been around for over seven years. In one of his previous messages, Musk wrote that “Dogecoin is the people’s cryptocurrency,” which also positively affected its price.

It is worth noting that users of the Reddit platform also took part in the promotion of Dogecoin. In January of this year, they decided to support the cryptocurrency by buying up large quantities of its assets. Thanks to this, the cost of one Dogecoin has grown from $ 0.007 to $ 0.078 in a short period of time. Currently, Dogecoin is trading at around $ 0.26 per unit, and the capitalization level of the digital currency has reached $ 32 billion. Thanks to this, Dogecoin managed to take eighth place in ranking the largest cryptocurrencies by capitalization, compiled by the CoinMarketCap platform.

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