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Elon Musk posted a photo of Dogecoin on his Twitter profile; Dogecoin 10% jump in price

Dogecoin jumped 10 percent after Elon Musk changed his Twitter profile picture to a photo of himself and Dogecoin. Contrary to some people’s expectations, it seems that Elon Musk can still influence the price of Dogecoin.

to the the report Crypto Potito, apparently Elon Musk has not yet completely forgotten Dogecoin. He changed his Twitter account yesterday to show that he still supports Dogecoin. As a result, the price of Dogecoin increased by 10%.

Elon Musk’s new profile is a picture of his face with the Dogecoin logo reflected on his sunglasses, something like the laser-eyed profile that has long been popular among Bitcoin fans on Twitter.

Elon Musk posted a photo of Dogecoin on his Twitter profile;  Dogecoin 10% jump in price
Elon Musk’s new profile on Twitter

Just one move from Tesla’s CEO was enough to push the Dogecoin overnight from $ 0.18 to more than $ 0.203. Of course, this growth did not last long, and now Dogecoin is trading again at $ 0.18.

Elon Musk posted a photo of Dogecoin on his Twitter profile;  Dogecoin 10% jump in price
Dogecoin price chart (red part is related to price growth after changing Elon Musk profile)

Dogecoin is currently 75 percent lower than its historical high of $ 0.7376 in May. The massive crash prompted some Dogecoin investors to turn to Elon Musk and ask him to raise the price of Dogecoin again with his positive tweets.

However, Elon Musk did not see the sun until earlier this month. On July 1, he tweeted about Baby Dodge, one of the last meme coins copied from Dogecoin, and within minutes the price of the digital currency had risen 90 percent.

Thanks to the approval of Elon Musk, Baby Dogecoin had a good start. It was even advertised on one of the cars participating in the NASCAR car race.

Jackson Palmer, co-founder of Dogecoin, is unhappy with the current state of the digital currency industry, despite his legendary character in the field. Palmer posted controversial content on Twitter last week that provoked mixed reactions.

Co-founder Dogecoin believes that almost everything in the digital currency industry is in trouble, including the concept of decentralization. He sees the digital currency industry as a right-wing tool that benefits the rich more without government restrictions.

According to Palmer, money will always be associated with politics, decentralization is an illusion, and the digital currency industry is controlled by a powerful group of “rich figures.”


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One Comment

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