Dogecoin Pumps: 12% in 24h! Elon Musk bullish: He continues to buy DOGE

Dogecoin Pumps: 12% in 24h!  Elon Musk bullish: He continues to buy DOGE

In this murky atmosphere of the crypto market, Dogecoin finds an unsurprising supporter: none other than Tesla CEO Elon Musk himself.

Buy DOGE now at Libertex

Elon Musk is promoting Dogecoin again

After Musk tweeted that “it will continue to support Dogecoin,” the price of the popular cryptocurrency has risen 12% to $ 0.058 in the last 24 hours.


Everything Musk says on Twitter – whether it’s about DOGE or any other idea – draws the attention of its nearly 99 million followers on the social media platform.

There is no doubt that his tweet is to continue buying Dogecoin but the cryptocurrency market wants it under great stress at the moment.

Her tweet came after an exchange with a user. He told Musk that if he supported him, he should buy the “joke” coin. The billionaire replied, “I can.” So Musk is buying Dogecoin during the correction.

This suggests that Musk, which is currently facing a $ 258 billion lawsuit for its support for Dogecoin, is sticking to the cryptocurrency.

Some market observers see this show of confidence in the crypto market as a great opportunity to buy cryptocurrencies while they are cheap.

The price rise of 5.8 cents is a long way from Dogecoin hitting 72 cents in May 2021. Musk appeared on the US Saturday Night Live show and mentioned cryptocurrency in his opening speech.

During some SNL appearances, Musk was questioned about cryptocurrency, to which he replied saying “It’s a hustle.” This has caused quite a stir among crypto audiences and the general public.

Best Dogefather Medal

Musk revealed last year that he personally owns Bitcoin, Ethereum and Dogecoin. Ideally, during 2020 and 2021, Google searched for spiked “dogecoin” whenever Musk tweeted about the cryptocurrency.

When the cryptocurrency bulldoze in 2021 pushed BTC and ETH prices to record highs, Musk repeatedly urged Dogecoin developers to improve the cryptocurrency. So she can “easily beat Bitcoin”.

DOGE Total Market Ceiling at $ 7.7 Billion on the Daily Chart Source:

Musk was voted “Dogecoin CEO” in a Twitter poll in 2019 and dubbed himself “The Dogefather”. It also revealed earlier this year that the coin “could be my favorite cryptocurrency.”

Recently, Musk (along with Dallas Mavericks owner Mark Cuban) has been in favor of using DOGE as a form of payment. That would give the coin a real purpose and take a little out of the realm of treacherous coins.

Buy DOGE now at Libertex

Text credit: Bitcoinist

Last updated June 20, 2022

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