- Elon Musk’s tweet has made Dogecoin soar 5% in the last 24 hours
- Musk had asserted that he will continue to Doge despite volatile market conditions
Elon Musk’s tweet has done wonders for Dogecoin, as the meme-inspired crypto has soared 5% in the last 24 hours. The internet’s Dogefather has bought Dogecoin amid the recent crypto crash and has asserted that he will continue to support Doge despite the unstable market conditions.
Elon Musk Is Buying Dogecoin Again.
On June 19, Tesla chief Elon Musk took to Twitter to declare that he is buying Dogecoin amid the current crypto crash. Later on, Musk tweeted that he will continue to support Dogecoin despite the prevalent crypto winter.
Musk’s tweet soon went viral on Twitter and ended up positively impacting the prices of cryptocurrency, boosting it up nearly 5% to $0.05781 in the last 24 hours.
Musk’s tweets have come amidst the recent class-action lawsuit that was filed against him for allegedly running a “Ponzi pyramid scheme.” According to a Bloomberg report, Musk was accused of being a part of a racketeering group that allegedly pumps the prices of doge. The lawsuit further added that Musk and his companies “falsely and deceptively claims that dogecoin is a legitimate investment when it has no value at all.”
In addition to this, Billy Markus who co-founded Dogecoin and is no longer part of the project also tweeted his views concerning Doge. Markus stated that he would like to see people working on bolstering Doge’s utility and security.
Later on, Markus also replied to Musk’s tweet agreeing with the fact that Musk has always played an instrumental role in delivering the utility factor to Dogecoin.
This isn’t the first time when Musk’s tweets have impacted the prices of Doge. Musk had earlier openly tweeted his support for the doge crypto when he declared that he would accept payments in doge for some of his tesla merch. Similarly, Musk has also asserted how he believes Dogecoin is better than Bitcoin in terms of transactions,pumping the prices of Doge further up a notch.