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Dogecoin Hits New All Time-High As Elon Musk Takes Twitter Frenzy To A New Level

February 7, 2021 9:29 pm
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Dogecoin Hits New All Time-High As Elon Musk Takes Twitter Frenzy To A New Level

Dogecoin (DOGE) reached an all-time high of $0.084 on Sunday evening pushed to the moon by Tesla Inc (NASDAQ:TSLA) CEO Elon Musk — again.

What Happened: The Shiba Inu-themed cryptocurrency found support from the rap star Snoop Dogg who tweeted a meme at Musk.

Kiss frontman Gene Simmons also joined the Dogecoin party on Twitter by calling himself the “God of Dogecoin.”

Musk send out multiple tweets including one in which he tweeted a chain dogs celebrity dogs pushing a Shibu Inu to the moon. 

The entrepreneur said on Twitter Inc’s (NYSE:TWTR) platform that the “people have spoken,” pointing to the results of a poll he conducted earlier where his followers ruled Dogecoin to be the “future currency of Earth.”

The meme-themed cryptocurrency was trading 26.74% higher on a 24-hour basis at $0.075 at press time.

See also: How to Buy Dogecoin (DOGE)

Why It Matters: Dogecoin has returned 1,309.30% on a year-to-date basis thrashing Bitcoin’s (BTC) 31.53% returns in the same period and making them look meager in comparison. 

BTC traded 2.69% lower at $38,421.34 at press time.  On Friday, Grayscale Bitcoin Trust (GBTC) closed 0.21% lower at $37.88.

See Also: How to Buy Dogecoin (DOGE)

Musk’s hilarious tweets on BTC and DOGE can push prices wildly. The social media utterances of the Tesla executive are causing worry to some who worry about attracting increased attention of regulators.

Photo by Dogeloverforever on Wikimedia

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