Thursday, July 29, 2021

‘Ur welcome’ — DOGE soars after Elon Musk returns to Twitter… to shill Dogecoin


Meme-based cryptocurrency Dogecoin (DOGE) gained 25% in minutes on Feb. 4 after a recent endorsement from the world’s richest man. 

DOGE/USD 1-minute candle chart (Bittrex). Supply: TradingView

DOGE in new “Elon pump”

Information from Cointelegraph Markets and TradingView confirmed DOGE/USD rebound previous $0.05 per token on Thursday, edging in direction of new all-time highs.

Musk, who is thought for title dropping Dogecoin and Bitcoin on Twitter however simply days in the past stated that he was taking a break “for some time,” returned to submit an image of a rocket and the moon.

“Doge,” he added in a subsequent comment, with later tweet studying “Ur welcome,” accompanied by a doctored picture of the Dogecoin shiba inu mascot as Simba within the Disney movie, “The Lion King.”

Instantly afterwards, Dogecoin leapt from $0.04 to native highs of $0.058, whereas commerce quantity additionally surged by over 100% in comparison with Wednesday.

The hashtag #ThanksElon additionally started to development in america.

Bitcoin eyes $40,000 resistance

As Cointelegraph reported, Musk had already helped gas a Dogecoin bull run by including to existing hype created by notorious Reddit group, r/Wallstreetbets.