Elon Musk’s latest tweet pumped another meme token by 50%.
Elon Musk is the richest personality in the world, he doesn’t need any kind of introduction. In 2020, Musk showed his full support for Dogecoin and he said that Dogecoin will succeed as the top best payment Cryptocurrency in the future if the crypto sector exists. Under the influence of Musk, the Dogecoin trade price surged multiple-folds in the middle of 2021.
On 20 March 2024, Elon Musk tweeted a Cat image to show his support for Dogecoin (Doge) but his tweet influenced the trade price of $Cat Coin (CAT).
We can see that the trade price of the Cat token surged by 41%, which is itself a huge thing for this token, as the majority of the flagship tokens are currently trading at a down price.
In the same period, the trade price of Dogecoin surged by nearly 3.7%.
A crypto enthusiast showed his sadness at how these useless crypto tokens are showing big rallies but practically useful cryptocurrencies are struggling to get money in flow.
In early 2023, Musk officially said that he shifted his interest from crypto to the Artificial intelligence (AI) sector but notably Musk talked about Dogecoin directly & indirectly multiple times over the last few months.
Just a few days ago, Musk said that many people who work at Tesla, not rich people, asked him to support Dogecoin. Tesla’s CEO also said that somewhere in the future his company will accept Doge payment.
Since Jan 2022, Under Musk’s leadership, Tesla started to sell some of its merch for Dogecoin payment.
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