Elon Musk and Dogecoin are inseparable. Once again, a tweet from the Tesla boss was enough to ring in the next round of the rally.
The Dogecoin fan crowd had to wait for the next tweet from Elon Musk for twelve excruciatingly long days. Today the Tesla boss found a few warm words about his favorite coin and immediately started the DOGE rally, which had stalled for a short time. The self-proclaimed “Imperator of Mars” has never made the greatest effort with his DOGE tweets. But that newest copy takes his laconic handwriting to extremes:
Probably based on Coppola’s masterpiece “Godfather”, this time he broke his tweet down to “The Dogefather”. The addition “SNL May 8” refers to his planned appearance on the US comedy show Saturday Night Live, which has already brought him some criticism on the social channels for his rude treatment of unions. What exactly he wants to express with “The Dogefather” remains his secret. In fact, you could call Musk a kind of Dogecoin godfather.
Because whenever Musk sets up a tweet with a Dogecoin reference, the coin turns up without further ado. This time too: In just 20 minutes after publication, 5 billion US dollars flowed into the DOGE market capitalization, a price increase of 17 percent. The weekly losses are almost paid for. In a seven-day comparison, DOGE slipped 2.8 percent, but posted a plus of 15.4 points on a daily basis. At the time of going to press, the DOGE price was trading at $ 0.31.
The price dip between his Twitter messages shows how dependent the Dogecoin Rally is on the “Technoking of Tesla”. After his last tweet on April 16, the price shot through the roof, as had already happened several times before, and the official “Doge Day” on April 20 did not bring the hoped-for landslide to one US dollar, the tide was ebb again for the time being. It remains to be seen whether the growth trend will last longer this time.