Musk’s Dogecoin tweet increased the value of the currency by nearly 10%

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Tesla CEO Musk posted another tweet related to Dogecoin on Twitter today, and said that he will host the “Saturday Night Live” SNL program on May 8. Subsequently, Dogecoin pulled up in a short-term, and the increase expanded to nearly 10%.

Naijatechnews learned that, according to the Huobi quotation, Dogecoin has risen by more than 200% in a day, and is now quoted at $0.397 per coin. The market value of Dogecoin surpasses TEDA and is now ranked fifth in cryptocurrency market value.

William Li, the chief researcher of OKEx Research Institute, a well-known digital asset trading platform, said: “Dogecoin’s fire is mainly due to Musk’s “carrying goods”. If Musk does not continue in the future or there is no actual support action, Doggo The currency will fall to its original level, and there is even a risk of collapse.

Later, some internet users commented on him: When a billionaire, institution, enterprise, and miner can seriously affect the price of Bitcoin at will, how can Bitcoin become a store of value? He believes that the existence of a billionaire like Musk who can influence currency quotations with just one sentence is problematic.

Musk’s Dogecoin Tweet Increased The Value Of The Currency By Nearly 10%

Of course, when there is doubt, there is praise. Most of the netizens in the comments below are showing off how much money they have made using speculative Dogecoin.

For example, this netizen also said: Your behavior will not even be done by children. We still rely on this system as a whole, although not in essence, you are definitely causing chaos now. Some netizens believe that because his behavior proves to the world that the Internet will collapse.

Musk’s Dogecoin Tweet Increased The Value Of The Currency By Nearly 10%

Musk’s Dogecoin Tweet Increased The Value Of The Currency By Nearly 10%

As of press time, Dogecoin was quoted at US$0.2979, an increase of about 9.55%, and the highest even reached US$0.3119, while the low within 24 hours was only US$0.2562.

 

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