{"id":9925,"date":"2021-02-04T15:23:02","date_gmt":"2021-02-04T13:23:02","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=9925"},"modified":"2021-02-19T19:19:12","modified_gmt":"2021-02-19T17:19:12","slug":"dogecoin-rises-following-elon-musk-tweet","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/dogecoin-rises-following-elon-musk-tweet\/","title":{"rendered":"Dogecoin rises following Elon Musk tweet"},"content":{"rendered":"
\"Dogecoin<\/div>\n

Price of dogecoin rises by 50% following Elon Musk tweet<\/h3>\n\n\n\n

\u2018Dogecoin<\/a> is the people\u2019s crypto\u2019, tweeted Musk on 4 February. Photograph: Joe Skipper\/Reuters<\/p>\n\n\n\n

Thanks to boosts from the world\u2019s richest man, the cryptocurrency has skyrocketed in value, along with bitcoin<\/p>\n\n\n\n

The price of dogecoin, a cryptocurrency, has soared after Elon Musk<\/a> underlined his power as a market tipster by tweeting about it.<\/p>\n\n\n\n

Dogecoin\u2019s price rose by 50% on 4 February shortly after Musk, the chief executive of Tesla and the world\u2019s richest person, tweeted that \u201cDogecoin is the people\u2019s crypto\u201d.<\/p>\n\n\n\n

\u201cNo highs, no lows, only Doge\u201d, he added. He also tweeted a meme featuring himself and dogecoin in Disney\u2019s The Lion King.<\/p>\n\n\n\n

Dogecoin, which uses a shiba inu dog meme as its logo, was started in 2013 as a joke<\/a>, after the invention of bitcoin prompted a wave of imitator cryptocurrencies. However, the joke caught on, and the coins had a market value of $6.3bn (\u00a34.6bn) on Thursday morning, according to Coinmarketcap.com, a cryptocurrency data provider.<\/p>\n\n\n\n

\"Dogecoin
Dogecoin rises following Elon Musk tweet<\/figcaption><\/figure>\n\n\n\n

The value of a single coin rose to $0.05204 that Thursday morning, up by almost three cents in 24 hours. The volume of trading more than tripled over the course of the day.<\/p>\n\n\n\n

Last month, Musk became the world\u2019s richest person<\/a>, above Amazon<\/a> founder Jeff Bezos<\/a>, as the value of his shareholding in Tesla <\/a>soared, in part because of huge interest in the electric car pioneer from amateur and retail investors as well as from large institutions.<\/p>\n\n\n\n

Musk has long been a prolific user of social media<\/a>, with a familiarity with online culture that is unusual among prominent chief executives. He had vowed on Tuesday to take a break from Twitter, before returning with comments that pumped up the value of dogecoin.<\/p>\n\n\n\n

In recent weeks Musk\u2019s tweets and comments have moved financial markets. At the height of the retail share trading mania surrounding GameStop, a US videogame retailer, he tweeted \u201cGamestonk\u201d, a reference to stock market memes.<\/p>\n\n\n\n

Read more: www.theguardian.com<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Price of dogecoin rises by 50% following Elon Musk tweet \u2018Dogecoin is the people\u2019s crypto\u2019, tweeted Musk on 4 February. Photograph: Joe Skipper\/Reuters Thanks to boosts from the world\u2019s richest man, the cryptocurrency has skyrocketed in value, along with bitcoin The price of dogecoin, a cryptocurrency, has soared after Elon Musk underlined his power as a market tipster […]<\/p>\n","protected":false},"author":3,"featured_media":9927,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[94,31,197,153,1033,349,735,946,750,81],"class_list":["post-9925","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-amazon","tag-business","tag-business-development","tag-disney","tag-dogecoin","tag-elon-musk","tag-spacex","tag-tesla","tag-theguardian","tag-twitter"],"yoast_head":"\nDazzlepop | Dogecoin rises following Elon Musk tweet<\/title>\n<meta name=\"description\" content=\"Dogecoin rises following Elon Musk tweet \u2018Dogecoin is the people\u2019s crypto\u2019, tweeted Musk on 4 February. 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