Elon Musk has once again demonstrated his ability to put Dogecoin DOGE/USD in the green with a single tweet.
What Happened: In a tweet on Wednesday, Musk revealed that he 'let the Doge out,' referring to meme coin DOGE.
At the time of writing, DOGE was up 4.7% in the last 24 hours.
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On Wednesday night, DOGE was down 3%, trading at $0.082, until a tweet from Musk made the price spike to $0.087.
Shiba Inu SHIB/USD also posted gains of 1.51% that can be attributed to Musk’s tweet.
Last week, Musk shared a photo of his dog wearing an iconic Silicon Valley-style black turtleneck while seated authoritatively in a large armchair behind a desk. Musk’s comment, “The new CEO of Twitter is amazing,” was enough to push up the prices of canine-themed cryptocurrencies.
Read Next: Bitcoin, Ethereum, Dogecoin Slide Amid Rate-Hike Anxiety: Analyst Says 'Avoid Emotions, Trade Prices'
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