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.
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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.