Elon Musk Tweets: Dogecoin (DOGE) is rising again!

Elon Musk, who recently emerged as a Bitcoin supporter and is known for being a longtime fan of Dogecoin (DOGE), is back on the agenda with a Dogecoin tweet. SpaceX and Tesla exec Musk took to Twitter to once again talk about his favorite prank coin.

The symbol of Dogecoin, a Shiba Inu dog, once a month in a space suit; He posted a photo of himself holding a flag that read “DOGE” and “Wow.” The Tesla CEO posted this tweet with the word “Literally” meaning literally. In one of his recent tweets, Musk referred to Dogecoin as the “people’s cryptocurrency.”

In the past, Elon Musk was able to increase the price of DOGE and Bitcoin with a single tweet. However, the rise of coins did not last long. In fact, the uptrends have reversed; On February 22nd and 23rd, the cryptocurrency market was painted red.

Recognized Altcoin Dogecoin (DOGE) Gaining Momentum

At the time of writing, DOGE seems to be back on the rise with Elon Musk’s tweet. The cryptocurrency, which hovered around $0.050 in the morning hours, has risen to $0.058 at the time of writing. According to CoinGecko chart, DOGE experienced a sharp surge around 4 p.m. when Musk tweeted. The interest the cryptocurrency has brought investors over the past 24 hours appears to be 21.1%.

24 hour DOGE chart. Source: CoinGecko

As we previously reported as Kriptokoin.com , Tesla announced that it has purchased $1.5 billion worth of Bitcoin. After this news, the price of the leading cryptocurrency BTC made a big rally; That surpassed the $50,000 mark.

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