Latest Elon Musk Tweet Causes Dogecoin to Surge

The price of Dogecoin has gone up again in recent weeks thanks to newfound assistance from Elon Musk, the South African billionaire and CEO of companies like Tesla, SpaceX, and now Twitter.

Elon Musk Helps Dogecoin Rise Again

In a recent social media post, Musk published a picture of his little dog Floki of the Shiba Inu breed (a Shiba Inu has long been the Doge mascot). The words accompanying the picture were rather sarcastic and likely weren’t meant to be taken seriously, though they appear to have sent the price of Dogecoin through the roof, and they’ve arguably given hope to people that the asset could once again flourish and make its way into the accepted payment methods of Twitter.

The message reads as follows:

The new CEO of Twitter is amazing. He is perfect. I guess he was the only one crazy enough to take the job.

The post is also likely a jab at those who voted for Musk to step down from his Twitter CEO position back in December after the entrepreneur unveiled a poll asking users if he should remain onboard or remove himself from executive duties. At that time, Musk responded to the results with:

I will resign as CEO as soon as I find someone foolish enough to take the job. After that, I will just run the software and server teams.

He has since stated that he’s looking to potentially replace himself with someone new towards the end of 2023, though it’s unclear who he presently has in mind. Most aren’t even sure if Musk truly plans to find a replacement. He commented:

I’m guessing probably towards the end of this year would be good timing to find someone else to run the company because I think it should be in a stable position around, you know, at the end of this year. I think I need to stabilize the organization and just make sure it’s in a financially healthy place and that the product roadmap is clearly laid out.

Despite the secondhand nature of the recent tweet, the message bore positive results for Dogecoin, which incurred a near four percent hike following the post.

A Big Fan of the Asset

Musk, to be fair, has always been a big fan of Dogecoin and has consistently been kind to the asset. A few years ago, he referred to it as the “people’s crypto,” and he’s stated in the past that he’s hoping to leave a literal Dogecoin on the moon by sending it up to space on one of his SpaceX rockets.

He has been much kinder to Doge than he has been to BTC, as with the latter, he rescinded the currency’s status as a potential payment method for Tesla vehicles just weeks after first agreeing to accept it.

Tags: dogecoin, Elon Musk, Twitter