DogeCoin Grew by 25% After Elon Musk Tweet

by in Cryptocurrency News

Dogecoin surged by 25%

Tesla and SpaceX CEO expressed sympathy for Dogecoin on Twitter and entered into a discussion about Bitcoin with MicroStrategy CEO Michael Sailor.

On December 20, the successful businessman wrote on Twitter: "One word: Doge." Following this, Dogecoin quickly soared 25% reaching 0.0047, the highest level from July.

Earlier Musk had written that he doesn't like BTC as much as fiat money.

Trending: Cardano Completed Its Vasil Hard Fork With Success

It's not the first time the second richest man in the world has talked about Dogecoin. Back in 2019, he announced that DOGE is his most liked digital coin.

Dogecoin is a P2P, publicly available crypto asset. It was introduced in December 2013 and is viewed as an altcoin. Initially, Doge was meant to be a joke coin. Creators got inspired by the well-known meme “doge”, a representative of the Shiba Inu breed also called 'Cheems'. However, people began to quickly acquire it. Last July TikTokers started a movement to push Dogecoin's price above a dollar, thus increasing the cryptocurrency's popularity.