Investing.com – With a gain of more than 6% over 24 hours at the time of writing, the is one of the best performing cryptocurrencies in the top 10 on Thursday.
And while DOGE is benefiting like the cryptocurrency market as a whole, and like risky assets in general, from a renewed appetite for risk, crypto has also benefited from a boost from Elon Musk.
The boss of Tesla Inc (NASDAQ:), Space X and Twitter (NYSE:) has indeed published several tweets accompanied by photos featuring his dog, purebred.
However, the Shiba Inu is the official mascot and “logo” of Dogecoin, of which Elon Musk is a declared fan.
“The CEO of Twitter is awesome”
“He is good with numbers”
“And he has style”
Despite the overtly humorous nature of these tweets, it was enough to boost the price of Dogecoin, reviving speculation about a potential integration of Dogecoin into Twitter, in one form or another (the possibility of tips in DOGE has often been mentioned in the twittosphere).
Short-term charts confirm that Dogecoin price immediately reacted to Musk’s tweets, starting at 4am CET. The and most other cryptocurrencies saw a midday bullish surge on Wednesday.
Dogecoin did not benefit from this, however, as the crypto visibly exhausted its upside potential with its strong reaction to Musk’s tweets early this morning.