Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has let out more tweets, alluding to the meme cryptocurrency Dogecoin (DOGE).
What Happened: The Shiba Inu-themed cryptocurrency seemed to be on Musk’s mind on Wednesday night when he tweeted a stick figure peering at the moon through a telescope.
Musk also made a possible reference on Twitter to the 1943 best-selling French novella “Le Petit Prince,” which is centered around a young prince who goes on an interplanetary exploration.
See also: How to Buy Dogecoin (DOGE)
When asked by a r/WallStreetBets moderator if his telescope tweet was a work by the artist Pablo Picasso. Musk replied it was a “Doge Barking at the Moon.”
Why It Matters: DOGE inched towards the 15 cent mark on Thursday, touching an intraday high of $0.1425 but simmered down to $0.1381 at press time.
Dogecoin Against US Dollar. A sharp spike is noted midnight ET on Thursday in the aftermath of Musk's latest DOGE tweets.
The cryptocurrency was trading 25.43% higher in a 24-hour period leading up to press time and rose 125.65% on a seven-day trailing basis.
The impact seems more pronounced relative to Musk's tweets on Wednesday, which didn't seem to immediately alter the Doge course.
Dig Deeper: Why Is Dogecoin Being Succhhhh A Good Boi Right Now?
Since the year began, the meme cryptocurrency has shot up 2,893.3%, which is significantly more than Bitcoin’s (BTC) 115.81% ascent in the same period. BTC traded 2.04% lower at $62,840.98 at press time.
The latest spike in DOGE’s valuation is driven by high social media interest as the cryptocurrency topped the list of trends on Twitter Inc’s (NASDAQ:TWTR) platform and on Stocktwits.com on Wednesday.
Price Action: Tesla shares closed nearly 4% lower at $732.23 on Wednesday.
Read Next: Cryptocurrency Market Overtakes Apple — The World's Most Valuable Company — In Market Capitalization
Photo by Play Your Place on Flickr
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