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Market Musings

DOGE Surges 28% as Elon Musk Says SpaceX 'is Going to Put a Literal Dogecoin on the Literal Moon'

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Published on:
April 1, 2021

Musk’s tweet dropped at 11.25am UK time on Thursday — and as you’d expect, prices raced up very quickly.

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It seems Elon Musk can tweet *literally anything* about DOGE and prices will rocket.

 

The Tesla “Technoking” gave his most recent contribution on April Fool’s Day, when he tweeted:

“SpaceX is going to put a literal Dogecoin on the literal moon.”

Notwithstanding the practical concerns associated with this — Dogecoin isn’t a physical object, and SpaceX has its work cut out to get to the literal moon — the joke cryptocurrency raced higher following the tweet.

 

A Big Boost 

Musk’s tweet dropped at 11.25am UK time on Thursday — and as you’d expect, prices raced up very quickly from their steady level at $0.054.

 

After an hour, DOGE had peaked at $0.069… a 28% increase.

 

Although the coin later fell 14.5% from this level, prices have since settled at $0.059, meaning that they’re up a good 10% on where they started the day.

 

On a 24-hour timeframe, DOGE is up 11.59% — and it’s risen by 17.6% over the past seven days.

 

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Connor Sephton

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