Dogecoin Soars following Elon Musk’s Latest Tweet

News • 2021/05/15 • by

Dogecoin has surged past 25% after Musk mentions the coin in his recent tweet.

Following an unfortunate turn of Doge on the SNL show, Musk did not fail to provide the coin with a suitable rebound. However, the recent blood bath caused by the sudden announcement of Tesla no longer accepting Bitcoin got cryptocurrencies in general diving for the bears. As of the time of writing, Bitcoin is trading at $59,042.96.

Major Updates

Elon Musk to Bitcoin with more energy-efficient crypto.

Dogecoin has gained by over 25% following Musk’s recent tweet.

Dogecoin may replace Bitcoin in the Tesla balance sheet.

During the weekend, Musk made an appearance on SNL, a popular comedy show where many Doge supporters were positive he would prove to be the Dogefather. It was expected that his appearance was what Dogecoin needed to reach the psychological high of $1.

Unfortunately, this was the opposite after Musk called the coin “a hustle.” This caused the coin to dip from $.70 to $.47. A price rebound followed, and the coin went along to trade at around $.57.

Musk then followed up with a Twitter poll asking his followers if Tesla should start accepting Dogecoin. The poll got a majority of upvotes of 78.2%, and many Dogecoin fans and speculators have been very concerned.

Next came an announcement on behalf of the electric car company Tesla in the form of a tweet. The tweet was captioned “Tesla and Bitcoin.” It consisted of content telling the public how Bitcoin was a danger to the environment as mining operations continued to pollute the air.

He explained that he agreed with the overall concept of cryptocurrencies; however, he was looking to adopt cleaner energy for his balance sheet. This could only mean that the billionaire would not remove cryptocurrencies from Tesla’s reach but replace Bitcoin with a more energy-efficient coin.

This could be Dogecoin

Recently, the billionaire has triggered a Dogecoin pump with the following tweet;