Dogecoin surged to $ 0.20 overnight after Tesla CEO Elon Musk changed his Twitter avatar in support of DOGE.
On his new avatar, Musk
depicted in aviator glasses, on the glasses of which are reflected dogs of the Shiba Inu breed, symbolizing Dogecoin. This is likely a reference to the laser-eyed memes that are often used by Bitcoin supporters on social media to show their loyalty to Bitcoin.
Dogecoin is now worth nearly a quarter of its all-time high of $ 0.73 set on May 8th. In addition, Musk reminded his followers that he bought DOGE for his newly born son.
“Lil X“ hod ”her DOGE like a real champion! He has never said the word “sell”, – joked Elon Musk.
Musk could previously push DOGE up 25% with a single tweet, but now it becomes much more difficult for him to do so. Recently, one of the creators of Dogecoin, Jackson Palmer, who became disillusioned with the project and left it, spoke out against the entire cryptocurrency industry. He called cryptocurrencies a technology that contributes to the development of the worst manifestations of the capitalist system – corruption, economic inequality and fraud.
But Palmer’s distrust of cryptocurrencies, even the Dogecoin he created, did not affect DOGE, which is still in the top ten by market capitalization.
Recently, DOGE has become more popular in the cryptocurrency market. According to a recent study, due to tweets by Elon Musk, US citizens have heard more about DOGE than about ETH.