The market value of the crypto currency Dogecoin ( DOGE ) has exceeded $ 10 billion thanks to the tweets of Tesla CEO Elon Musk and other celebrities. According to the available data, the price of the cryptocurrency is $ 0.082 at the time of writing. A short time ago, it set a new record with $ 0.083. Its market capitalization has also surpassed $10 billion and is around $10,483,929,454 at the time of writing.
In addition, the recognized altcoin became the 9th largest cryptocurrencies by market price.
Over the past seven days, the DOGE price has risen over 88%, partly thanks to Elon Musk and a campaign he launched to help individual investors reach $1 by capitalizing on the momentum created by the WallStreetBets movement.
Celebrity Dogecoin (DOGE) boost
Shortly after Musk’s tweets that led to the Dogecoin pump, arguing that he gave Twitter “for a while” medium came. When Musk returned to the platform, tweets about the cryptocurrency came as well. Kiss musician Again Simmons later joined the fray and said he made a “six-figure” DOGE investment, while also stating that he has other crypto assets.
Snoop Dogg later tweeted an edited version of one of the album covers and changed his name to “Snoop Doge”.
Elon Musk’s comments came at a time when cryptocurrency derivatives platform BitMEX launched Dogecoin perpetual swap agreements, allowing investors to speculate on the price of the cryptocurrency through long or short positions.
Musk, who previously said that he believed that Bitcoin was on the verge of mass adoption, announced that he was a Bitcoin supporter. As we reported on Kriptokoin.com , according to Tesla’s latest annual report (Form 10-K) submitted to the US Securities and Exchange Commission (SEC), the electric car manufacturer invests $1.5 billion in Bitcoin. made.