Elon Musk has long been a supporter of Dogecoin (DOGE), a cryptocurrency created as a joke in 2013. In recent months, he has repeatedly tweeted about it, sending its price soaring.
On July 24, 2023, Musk changed his Twitter location to “X Ð,” where “X” is the new logo of Twitter and “Ð” is the symbol for Dogecoin. This tweet sent Dogecoin’s price soaring by 6%.
It is unclear why Musk changed his Twitter location to include the Dogecoin symbol. However, it is likely that he was trying to show his support for the cryptocurrency. The action also coincided with reports that Twitter is considering accepting Dogecoin as a form of payment.
Impact On Dogecoin (DOGE) Price
Musk’s action had a significant impact on the price of Dogecoin. The cryptocurrency soared by 6% in the hours following the tweet. This is likely due to the fact that Musk is one of the most influential people on Twitter, and his tweets often have a significant impact on the price of cryptocurrencies.
Musk’s tweet is a sign that he is still a strong supporter of Dogecoin. It is also a sign that Twitter is considering accepting Dogecoin as a form of payment. These developments could have a significant impact on the future of Dogecoin.