Dogecoin

Elon Musk

<p>Elon Musk’s cryptic tweets have reignited interest in the crypto community, especially among Dogecoin enthusiasts. On Tuesday, Musk posted a cryptic message on X (formerly Twitter), “D.O.G.E.” and a mockery of the acronym—a move that sent the price of Dogecoin (DOGE) price up 5%, to $0.105 at the time of writing.</p>
<p>The tweet in question posted an AI-generated image of Musk standing behind a podium labeled “Department Of Government Efficiency (D.O.G.E.).”</p>
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   <p lang="en" dir="ltr">I am willing to serve <a href="https://t.co/BJhGbcA2e0" rel="noopener noreferrer nofollow">pic.twitter.com/BJhGbcA2e0</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1825723913051000851?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 20, 2024</a>
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<p>Accompanying the image was a simple statement: “I am willing to serve.” The post quickly went viral, resonating with the&nbsp;<a href="https://www.thecoinrepublic.com/2023/09/04/is-elon-musk-eying-toward-dogecoin-to-make-it-payment-option-for-x/" rel="noopener noreferrer nofollow">Dogecoin community</a>&nbsp;and reigniting the utility of the meme-based cryptocurrency in the wider crypto market.</p>
<p>In a recent campaign stop, former president and Republican nominee Donald Trump identified a potential future cabinet member should he win the upcoming election. Trump has revealed that he will give Elon Musk if he wins the presidency in November.</p>
<p>The announcement sparked reactions to the X, with comments flooding the commission. Musk responded to a post in his unique way, and it quickly went viral. While the intent of the tweet remains unclear, it nevertheless reaffirms Musk’s influence on Dogecoin’s market dynamics.</p>
<h2 class="wp-block-heading" id="h-the-ongoing-musk-dogecoin-relationship"><strong>The Ongoing Musk-Dogecoin Relationship</strong></h2>
<p><a href="https://www.thecoinrepublic.com/2023/12/27/elon-musks-cryptic-tweet-triggered-shib-doge-and-xrp-fans/" rel="noopener noreferrer nofollow">Musk’s enthusiasm for Dogecoin</a>&nbsp;is no secret. Over the years, the billionaire has consistently promoted the Shiba Inu-themed cryptocurrency, with his tweets often causing prices to soar. His love for DOGE has spread to Tesla, where memecoin has been adopted as a means of paying for certain products.</p>
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   <p lang="en" dir="ltr">Perfect name <a href="https://t.co/qOUblToy7v" rel="noopener noreferrer nofollow">https://t.co/qOUblToy7v</a></p>— Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1825713908067479735?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 20, 2024</a>
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<p>In April 2023, Musk abbreviated the X’s logo to Dogecoin, a move that significantly increased its value. 1825713908067479735 This isn’t the first time Musk’s tweets have had a noticeable impact on Dogecoin market performance.</p>
<p>In the past, his support has boosted the value of the currency, though it has also attracted criticism. A group of investors sued Musk in 2022, accusing him of manipulating Dogecoin by increasing its value by more than 36,000% in two years, only to crash</p>
<h2 class="wp-block-heading" id="h-doge-price-market-performance"><strong>DOGE Price Market Performance</strong></h2>
<p>Dogecoin has seen a volatile increase in recent weeks, with Musk’s latest tweet adding momentum.</p>
<p>As Dogecoin price follows Musk’s latest reference, market watchers are interested to see if this surge lasts as just another short-lived spike.</p>
<p>Starting out as a joke, the cryptocurrency has proven to be robust, thanks in large part to Musk’s occasional contributions. At the time of writing,&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/18/dogecoin-doge-price-to-10-analyst-reveals-why-it-is-possible/" rel="noopener noreferrer nofollow">DOGE</a>&nbsp;is trading at $0.1053, up 5.37% in the last 24 hours.</p>
<p>The post <a href="https://www.thecoinrepublic.com/2024/08/20/dogecoin-price-jumps-5-after-elon-musks-cryptic-d-o-g-e-reference/" rel="noopener noreferrer nofollow">Dogecoin Price Jumps 5% After Elon Musk’s Cryptic ‘D.O.G.E.’ Reference</a> appeared first on <a href="https://www.thecoinrepublic.com" rel="noopener noreferrer nofollow">The Coin Republic</a>.</p>

Dogecoin Price Jumps 5% After Elon Musk’s Cryptic ‘D.O.G.E.’ Reference

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