Dogecoin Gallops High Upon Elon Musk’s Tweet

Dogecoin Gallops High Upon Elon Musk’s Tweet

Elon Musk tweets once again on Dogecoin earlier this morning. This time rather hopefully. He mentioned that he and Dogecoin are working together to come up with a new improved transaction system. He further mentioned  “Potentially promising”. These two words alone are enough to light up the fire on the Dogecoin’s  price to rocket up again.

Dogecoin History so Far:

Calling himself the ‘Dogefather’, Elon once again proves it to his name. Whatever be his tweet will set the market on play. Elon is now like the puppet master of the whole crypto industry. His tweets are the strings upon which the whole crypto industry is being played. 

Looking back since the end of last month, his SNL announcement tweet skyrocketed Dogecoin’s price from $0.265  to a staggering high of  $0.737 just within a week’s time. Then it remained in the same zone jumping between  $0.72 to $0.69 constantly until his very next tweet just hours before the SNL. After his mentioning to the world to invest cautiously into crypto, the market flung downhill from the epic height of  $0.753 to a low of $0.35 till yesterday. Everything so far regarding the price of Dogecoin is based on Elon’s tweets.

Future of Dogecoin:

As always, today’s tweet proved the same. History keeps repeating again and again. Usually just a normal tweet from Elon depicting any coin, either it be Dogecoin or Bitcoin or whatsoever, affects their prices drastically rising up. So I think you all could imagine what will happen if he tweets optimistically.  True to your imagination, the price of Dogecoin is up racing like anything since Elon’s early morning tweet. Till yesterday the whole crypto industry witnessed a great bear market overall since Elon & Tesla together officially announced their cease of Bitcoin payment for Tesla’s products. Upon the whole market sump, Dogecoin alone rose up like a one man army from the dead. From $0.35, it now stands $0.576,touching $0.590 on the way. This mounts to 53.09% increase in its price for the past few hours since Elon’s tweet. No wonder , the price may even hit the $1.00 stance once we wake up tomorrow. Now from Elon’s such tweet,stating openly his working with Dogecoin and his mentioning ‘Potentially promising’, sets the future as bright as possible. It may even be an overnight metamorphosis, let’s wake up to witness it!

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Cryptocurrency and blockchain tech interest has enticed Carolyna to write for NewsCrypto. She made her personal mission to help non-crypto geeks to understand the technology with ease.