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Dogecoin: Elon Musk's loyalty has risen in price by 15%

A new rise of 15% has been seen in the last hours of the digital currency Dogecoin, after the vote of confidence received from its CEO Tesla Elon Musk

See also: Tesla: Why does it stop accepting Bitcoin as payment for its vehicles?

Dogecoin Elon Musk

The billionaire businessman responded to a Twitter post about Dogecoin speculation by saying, "I do not have and do not intend to sell any. "

As a result, the cryptocurrency, which Musk regularly promotes on social media, saw a sharp rise in value after days of falling prices.

Earlier, Musk, CEO of both Tesla and SpaceX, had posted on Twitter the photo of a laptop with a one-dollar sticker on it and the caption "How much is that Doge in the window».

And when social media users took a closer look, the bill had a picture of Shiba Inu in place of George Washington.

This is the second time this week that Musk has publicly defended cryptocurrencies, after he wrote on Twitter that Tesla will not sell its Bitcoin despite falling prices.

See also: Despite the fall in its price, Tesla will not sell its bitcoin

Several of his users had criticized him and some of them suggested that he sell his Bitcoin portfolios.

Dogecoin Elon Musk

Answer with one tweet that the electric car company had "Diamond hands", which refers to dealers who hold stocks even when their price falls, with the aim of long-term profit.

The fall in digital currency prices began after Elon Musk tweeted that Tesla had suspended receiving Bitcoin as payment for its vehicles due to concerns about the environmental impact of Bitcoin mining.

He has since said the company will retain its Bitcoin and allow it to be used again for purchases when mining becomes more sustainable.

See also: The price of Dogecoin skyrocketed after Musk's comment

Tesla bought $ 1,5 billion worth of Bitcoin at the end of 2020 when the price was below $ 20.000 and sold a 10 percent in early 2021 when the price reached $ 50.000, with a profit of $ 101 million.

When he appeared on Saturday Night Live last month, he repeatedly referred to Dogecoin, which also led to an increase in its price.

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