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Dogecoin price increases after a tweet from Elon Musk
On Thursday, June 1st, Elon Musk made a tweet in which he wrote the Baby Shark poem. However, Elon replaced the ‘Baby Shark,’ with ‘Baby Doge.’ Soon after the tweet, the price of Dogecoin jumped from around $0.2398 (Rs 17.94) to around $0.2567 (Rs 19.21). That’s almost a 10 percent jump in the price of Dogecoin, thanks to the tweet from Elon. It is also worth mentioning that an earlier tweet from Elon in which he said “Release the Doge” along with a meme related to the Godfather movie, might have also affected the prices of Dogecoin.
Baby Doge price doubled the tweet from Elon Musk
The Baby Doge tweet, however, was focused towards Dogecoin spin-off cryptocurrency Baby Doge. And Elon’s tweet seems to have hit the target right in the eye. The price of Baby Doge was hovering around $0.000000000916 before the tweet from Elon Musk. However, after his tweet, the price of Baby Doge jumped to $0.000000002108. That is a 130 percent increase in the price. Elon Musk has recently been posting tweets related to a few cryptocurrencies, which have resulted in a bump in the prices of those cryptocurrencies. However, Elon’s company, Tesla, has stopped taking accepting cryptocurrency because it believes cryptocurrency uses a lot of energy.