The world’s richest man, Elon Musk some mins ago just endorsed dogecoin via his Twitter feed.
“Dogecoin is the people’s crypto,” Musk tweeted.
Dogecoin is the people’s crypto
— Elon Musk (@elonmusk) February 4, 2021
The price of the fast-rising crypto has recorded significant gains after Elon Musk tweeted.
At the time of writing this report, Dogecoin traded at $0.054293 with a daily trading volume of $6.3 billion. Dogecoin is up 66.78% for the day.
Elon Musk, who at press time had a net worth of $204 Billion, also had an image on his Twitter feed mimicking him as Rafiki the baboon that endorsed Samba (Lion cub) to be king in the Walt Disney movie titled “Lion King“.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Dogecoin (DOGE) is based on the popular “Doge” Internet meme and features a Shiba Inu on its logo.
- The open-source crypto was invented by an American known as Billy Markus and an Australian identified as Jackson Palmer. The crypto asset was forked from Litecoin in December 2013.
- This fast-rising crypto is being primarily used as a tipping system on popular social media platforms like Twitter and Reddit in order to reward the creation or sharing of quality content.
- Crypto exchanges presently having Dogecoin listed include YoBit, BitAsset, Binance, Huobi Global.
![TNS Event](https://i.ibb.co/8cBH227/thumbnail-TNS-GOOGLE-RESIZE-300x250.jpg")
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Elon is just trolling. He talked about Bitcoin recently in a Clubhouse meetup some days ago where he admitted that he was a bit late to the Bitcoin party and that the Dogecoin stuff were just jokes. I think he wants to shift focus to Dogecoin so that he buys Bitcoin.
There was a SpaceX personnel that attended Michael Saylor’s Bitcoin conference yesterday. He wants to get into Bitcoin relatively cheap, I’m 95% sure of that. The Dogecoin thing is a distraction.