HomeinetThe price of Dogecoin skyrocketed after Musk's comment

The price of Dogecoin skyrocketed after Musk's comment

Following a statement from Elon Musk, who referred to himself as "The DogefatherDogecoin digital currency saw a big increase in its price.

Dogecoin Musk

The cryptocurrency rose from $ 0,25 to $ 0,30 in less than 15 minutes on Wednesday morning, pushing it to its highest level since the beginning of the month.

Musk, who owns SpaceX and Tesla in addition to his other business activities, hinted that he would talk about dogecoin during his upcoming appearance on Saturday Night Live.

See also: NASA: SpaceX Crew-2 mission launched to ISS!

The Dogefather He wrote to its 52 million followers. "SNL May 8."

Previous reports of dogecoin by Musk have prompted similar price increases, with speculation leading to an investigation by US regulators into possible market manipulation.

However, beyond the market Bitcoin worth $ 1,5 billion earlier this year through Tesla, the popular CEO has no significant dealings with dogecoin. He has of course bought an unspecified amount for his young son.

See also: How to buy a Tesla car with Bitcoin?

Musk has also criticized the big holders of cryptocurrency, arguing that people who accumulate large stocks of dogecoin are effectively preventing it from becoming a major currency.

Dogecoin Musk

In February, it offered to buy the so-called dogecoin whales, to turn it into an "internet currency" with a more stable value.

«If major dogecoin holders sell most of their currencies, they will have my full support", He wrote on Twitter.

«Excessive concentration is the only real issue. I would literally pay in dollars if they just canceled their accounts. "

See also: SEC investigation into Elon Musk for Dogecoin tweets

Dogecoin has made huge gains in recent months, rising from less than half a cent at the beginning of the year to more than $ 0,40 on April 20.

This price rally has been partly encouraged by Musk, who often shares a meme with the dog Shiba Inu who inspired the creation of the cryptocurrency.

When asked by one of his followers on Twitter earlier this year why he wrote so much about it, he replied: "I love dogs and memes».

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