Dogecoin jumps 160 percent in 24 hours. Elon Musk recalls his prediction

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Dogecoin jumped nearly 400% in the last week alone. If you are on Twitter, you know that there is a billionaire capable of making or breaking the market with the fall of a tweet. This is Elon Musk, CEO of Tesla and SpaceX. There are times when he hints at what to do or not do, and that completely changes the direction of the market. One of his favorite topics these days seems to be cryptocurrency. Among those that seem to have piqued his most curiosity is Dogecoin, which launched as an internet meme in 2013, but is now among the top five cryptocurrencies in the world with a market capitalization of nearly $ 40 billion (approximately Rs. 2, 98 lacquer crore).

According to last numbers of CoinDesk, the digital currency with the image of the dog “Shiba Inu” as its logo, collected 160.6% in the last 24 hours and last traded at $ 0.35 (approximately Rs. 26). And there is no denying that Musk’s frequent tweets about it Dogecoin keep adding to the digital currency craze.

On Friday morning, Musk tweeted a work of art by Joan Miró, a Spanish artist and sculptor. And the billionaire wrote, “The doge is barking at the moon.”

On Friday night, after the huge boost Dogecoin received throughout the day, Tesla’s CEO was back on track. This time, however, he responded to one of his tweets from July 18, 2020. The original tweet is a meme showing a massive dust storm with the face of a Shiba Inu dog ready to embrace the world he mentioned as a global financial system.

In response to this tweet, Musk simply shared emoticons from the eyes, trying to tell the world that he was justified after the huge profits of Dogecoin.

Twitter users began to react to the latest tweet from the technology billionaire, and some even praised him for making his predictions correctly.

“So either 1) you have a time machine, or 2) you are the greatest member of all time. Or both!” wrote a user.

Another shared a meme showing the battle between different global currencies that ended with Dogecoin’s victory.

Here are some more reactions:

Musk has long been an ardent supporter of cryptocurrencies. In January this year Tesla invested a mammoth $ 1.5 billion (approximately Rs 11,181 crore) in Bitcoin, the largest virtual currency in the world, which closed at $ 61,822.06 (approximately Rs. 46.08 lacquer) on Friday night.

Speaking of how big a fan he looks of Dogecoin, Musk once changed his biography on Twitter to “Former CEO of Dogecoin.” In addition to him, other celebrities such as rapper Snoop Dogg and rock musician Gene Simmons have also promoted cryptocurrency on social media.

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