Dogecoin (DOGE) may have been created as a joke cryptocurrency, but its latest performance is nothing to joke about. The cryptocurrency skyrocketed to a new all-time high twice in the past three months, originally going from $0.007 to $0.081 in February.
Then, it surged again over the past few days, going from $0.063 on April 10th to $0.14 earlier today. Over the past few hours, the coin corrected slightly to $0.1336.
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This latest surge likely came due to Coinbase direct listing, but another factor that undoubtedly contributed is, once again, Elon Musk.
Elon Musk raises DOGE hype once more
Elon Musk has made quite an impression on the entire world with a recent video of a macaque playing a game with its brain alone. However, he is now back to tweeting about Dogecoin, after making almost a month-long break.
There were some cryptic tweets and emojis recently, but nothing too specific until he posted a painting created by Joan Miro, a Spanish artist. The painting shows a dog barking at the moon, which is also the painting’s title. However, Musk called it Doge Barking at the Moon, once again referencing his favorite crypto.
Immediately after the tweet, DOGE surged by 12%, as the industry was once again encouraged by the crypto world’s most popular billionaire.
In fact, Musk has made such a massive impression on the crypto sector that one trader, Andrei Badoiu, recently made a bot that automatically buys Bitcoin whenever Musk tweets about it, which is one of the most amusing strategies that the crypto industry has seen in its recent history. And, it shows just how big of an impact Musk has on Bitcoin, Doge, and likely the broader crypto sector, as well.
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