Dogecoin Rises 7% As Elon Musk Tweets Renewed Interest, Other Cryptocurrencies Drop
(Photo : Wikimedia Commons)

Dogecoin increased about 7%, thanks to Elon Musk renewing public interest showing just how significant his thoughts are on the cryptocurrency.

Dogecoin Garners More Attention

Elon Musk's tweets regarding Dogecoin made people go and purchase more of the meme coin, or start investing in Dogecoin and other cryptocurrencies since was reported that on Thursday, July 1 as reported by Business Insider.

Musk, Tesla's chief executive, went to Twitter and posted a meme containing Marlon Brando in the Godfather with a caption saying, "Release the Doge!"

Shortly after, he tweeted a song regarding the meme coin, and since then Dogecoin has been going up once again as compared to before Musk gave hope to the masses to once again and go get more of that Doge.

Dogecoin was in the red below $0.24 and now rose to $0.2573, according to the data given by CoinMarketCapdata.

Musk has shown to be one of the most influential drivers in the world of cryptocurrency market in 2021. He's one of the voices that helped devalue the previously powerful Bitcoin by stopping payments for Tesla electric cars using the token and also attacking its energy usage.

Read More: Elon Musk 'Cheers' Dogecoin Founders' Statement: People Serious About 'Satirical Meme' Money Ruins its Charm

Elon Supported Dogecoin Way Back

The joke that started in 2013, the Dogecoin has long been supported by Musk, and he recently went to its developers and started collaborating as to how to better improve its efficiency. Musk, however, has not always contributed to the rise of the coin but many Doge investors still hope to be able to use his slot in Saturday Night Live aired in May to further boost the token.

As to many Doge investors' dismay, Musk just called it a "hustle," and since then, the cryptocurrency has dropped more than 65% since his SNL guest starring.

Slowly but surely, the price is going up once again along with other cryptocurrencies as people are now looking once again into the world of cryptocurrency market to see if it's worth investing. 

Dogecoin in Space

Many of the people closely following the cryptocurrency market have jokingly said to Musk to send Dogecoin into space in one of his SpaceX rockets. The statement that started out as a meme or joke has turned to reality as a YouTuber named Reid Williamson, not Elon Musk, sent a Dogecoin to space (or at least until the stratosphere.)

As per LiveMint, the 23-year-old YouTuber brought the replica up in the sky by using a weather balloon in celebration for Elon Musk's 50th birthday.

Reid tweeted out saying "I sent an actual Dogecoin to space with a weather balloon for @elonmusk 50th bday #DogeFather #DogecoinToTheMoon $DOGE" and has since garnered more than 5k likes.

The tweet was posted on Tuesday, June 29, and they also posted a YouTube video with him and his team trying to make the experiment work a couple of times before managing to push the helium-based balloon to a height just enough to see the Earth's curvature.

Related Article: Billy Markus Dogecoin CEO: From a Joke to Piss Off Leading Crypto to Making a Legitimate 2021 Blockchain with Elon Musk as a Fan

This article is owned by Tech Times

Written by Alec G.

ⓒ 2021 All rights reserved. Do not reproduce without permission.