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Dogecoin price has significantly surged particularly thanks to Musk’s recent tweets endorsing the coin.
Elon Musk and Canadian singer Grimes’ 9-month-old son X Æ A-Xii may just be the youngest known crypto owner.
In a tweet on Wednesday, the billionaire CEO of Tesla and SpaceX Musk revealed that he had bought some Dogecoin (DOGE) for his son “lil X”, calling him a “toddler HODLer”.
Bought some Dogecoin for lil X, so he can be a toddler hodler
— Elon Musk (@elonmusk) February 10, 2021
The token’s prices have surged this year, in part, thanks to Musk’s recent tweets endorsing it. DOGE started the year priced at roughly $0.005. At the time of this writing, it was at $0.0722, a $0.0627 increase. As with his tweets about, well, almost anything, Musk’s tweets about Dogecoin have been followed by a surge in prices.
Elon Musk is by no means the only famous person to publicly endorse the token.
Fellow billionaire and Dallas Mavericks owner Mark Cuban on Monday tweeted that DOGE is the “best entertainment bang for your buck available” and even revealed that he had bought $5 worth of the token for his son and that they “watch it and discuss all its price movements and why they occur”. He noted that while the token has no “intrinsic value”, it was good for teaching economics and introducing people to crypto.
Rapper Snoop Dogg and Gene Simmons of the band Kiss jumped the DOGE bandwagon with Snoop tweeting this altered version of his album cover art showing the Doge meme dog’s head in place of the rappers face and featuring the words “Snoop Doge”.
— Snoop Dogg (@SnoopDogg) February 6, 2021
Rock star Gene Simmons also took to Twitter to express that he believes that the token’s price “will go up.”
With the increase in mainstream interest in cryptocurrencies, more young people are eager to learn how to hold and trade. Minors with no legal way of owning crypto can only hope that their parents will go the Musk and Cuban route and gift them with the digital asset of their choice.