Elon Musk Says Tuition Fee For A Texas University He Is Planning Would Be In Dogecoin; Meme Crypto Spikes In Instant Reaction

Elon Musk does it again. As he has done many times in the past, the Tesla, Inc. TSLA CEO sent Doge DOGE/USD higher with a tweet.

Doge For Tuition Fee: Musk had earlier this week tweeted his intention to set up a university in Texas, going by the name the "Texas Institute of Technology & Science." In a threaded reply to the main tweet, Musk suggested the tuition fee will be accepted in Dogecoin and went on to add that a discount is applicable for dog owners.

Related Link: Doge, Shiba Inu Consolidate Following Week's Strong Run; Another Leg-up In The Cards?

Doge Rises In Reaction: Doge, which rose to a high of $0.3388 on Wednesday, has pulled back since then and is seen consolidating its gains. The meme currency was trading under 26 cents just seconds before Musk's tweet, which had a time stamp of 2:20 pm. Doge reacted instantly and spiked to $0.2813 around that time but then pulled back immediately after.

Incidentally, Doge hit an all-time high of $0.7376 on May 7, a day ahead of Musk's appearance on the "Saturday Night Live" show on May 8. The record run came amid anticipation of the Tesla chief promoting the meme crypto on the show. At last check, Doge was down 0.54% at $0.02711.

Related Link: How to Buy Dogecoin (DOGE)