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Tweet by Elon Musk Pushes ‘Dogecoin to the Moooonn’, DOGE Hits New ATH of $0.80

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by Bhushan Akolkar · 3 min read
Tweet by Elon Musk Pushes ‘Dogecoin to the Moooonn’, DOGE Hits New ATH of $0.80
Photo: Depositphotos

Several popular personalities like Snoop Dogg and Gene Simmons have followed Musk and are now tweeting about the Shiba Inu cryptocurrency. As DOGE hits a new all-time high it is now 1600% up year-to-date.

Last Saturday, February 6, business tycoon Elon Musk once again tweeted about Dogecoin (DOGE) pushing its price straight up northward. In a Twitter poll conducted about the “future currency of the earth”, Musk’s followers voted for Dogecoin with an overwhelming majority of 71% against all other cryptocurrencies.

This is certainly not the first time that Elon Musk has been talking about DOGE. The world’s richest man sent the Dogecoin price skyrocketing by referring to it as the ‘people’s cryptocurrency’. However, his tweet was enough to put DOGE on a northward trajectory. Since his tweet, DOGE price has surged a massive 57% as the meme cryptocurrency hits a new all-time high of $0.80.

At press time, Dogecoin (DOGE) is trading 21% up at a price of $0.71 with a market cap of $9.1 billion. As of date, the price of DOGE has multiplied 17.5 times with over 1600% gains year-to-date. It’s been a crazy rally as DOGE investors have been going in with new ones joining the bandwagon.

Snoop Dogg and Gene Simmons Join Musk in the DOGE Army

On Sunday, February 7, popular rapper Snoop Dogg shared a photoshopped image of the Shiba Ibu cryptocurrency. Snoop Dogg’s support to DOGE pushed it skyrocketing further creating the pump mania.

Popular rockstar Gene Simmons has joined the bandwagon and has been continuously tweeting about DOGE over the last 24-hours. Well, this hasn’t even stopped Elon Musk from tweeting about DOGE. On February 4, Musk shared a Lion King meme holding the Shiba Inu Dog representing Dogecoin. Now he adds Snoop Dogg and Gene Simmons to the meme.

Over the last few hours, Musk has been continuously about DOGE with one of his recent tweets stating “Who let the Doge out”. Commenting on the latest Dogecoin price surge, popular crypto trader DonAlt states that the “normie shilling” around Dogecoin is just unprecedented. However, he warns new investors who are entering with a perspective of long-term gains. The crypto trader warns:

“If you’re trying to get into DOGE for the long term – You’ll give back everything you’ve made. So, sell partials on the way up or try to time the top by analyzing how much steam is left in the normie shill tank. Buying DOGE should only be done with selling in mind.”

With the recent rally, Dogecoin is now among the list of top-ten cryptocurrencies with a market cap of $9.1 billion.

The illustrations were provided by Depositphotos.com

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Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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