In a flurry of tweets on Thursday, Musk wrote: “Doge,” “Dogecoin is the people’s crypto,” and “No highs, no lows, only Doge.” He also shared a famous image of Lion King character Rafiki lifting up Simba, with his face over the monkey’s and the Doge meme Shiba Inu dog as the lion cub.
According to CoinDesk , the value of Dogecoin spiked by 43 percent following Musk’s tweets, from $0.041 to $0.059.
His tweeting spree came after the billionaire engineer and tech entrepreneur announced on Tuesday he would be ” off Twitter for a while .” Musk did not say why he was taking a break from the social media platform where he has 45.1 million followers.
Musk broke his silence with a tweet about the launch of SpaceX’s Falcon 9 rocket, explaining it was a “tough one” due to “high seas & wind,” before sending 12 tweets on Dogecoin and other topics. One tweet read “Sandstorm is a masterpiece,” an apparent reference to the 2000 dance track by Darude.
Seemingly acknowledging the absurd nature of his tweets, Musk wrote “Low-key Loki.” The Norse god is known as a prankster.
Musk also deleted his Twitter bio, after he changed it to “#bitcoin” a week ago .
The tweets marked the latest chapter in the tongue-in-cheek relationship between the cryptocurrency that was created as a joke based on Litecoin in 2013, and came amid an eventful few days for Dogecoin.
The coin made headlines recently partly thanks to support from the subreddits r/dogecoin and r/ SatoshiStreetBets , the latter a copycat of the upstart amateur investors subreddit r/WallStreetBets . Similarly to how WallStreetBets members had tried to affect the value of Wall Street stocks, Dogecoin supporters tried and failed to force the coin’s value up to $1 .
In December 2020, Musk tweeted “one word: Doge,” prompting its value to spike by 20 percent . And in 2019 a poll on the Dogecoin Twitter page jokingly trying to find a CEO saw Musk win. Last week, Musk tweeted an image of a mock Vogue cover titled “Dogue,” which was interpreted as another nod to the coin.
On Sunday night, Musk said in an interview on the Clubhouse social media platform : “Occasionally I make jokes about dogecoin, but they are really just meant to be jokes.”
Acknowledging the coin was created as a joke, he said: “Arguably the most entertaining outcome and the most ironic outcome would be dogecoin becomes the currency of earth in the future.”
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