Tesla Ing (NASDAQ: TSLA) CEO Elon Musk tweeted more, referring to the secret cryptocurrency Dogecoin (DOG).
What happened: The Shiba Inu-themed Cryptocurrency seems to have been on his mind on Wednesday night when he tweeted a stick figure peering at the moon through a telescope.
☾
– Elon Musk (@elonmusk) 15 April 2021
Musk also made a possible reference about Twitter to the best-selling French novella “Le Petit Prince” from 1943, which is centered on a young prince who goes on interplanetary exploration.
Asked by ar / WallStreetBets moderator if his telescope tweet is a work of artist Pablo Picasso. Musk replied that it was a ‘Doge barking on the moon’.
Daughter barking at the moon – Miro pic.twitter.com/1vTM2XOusy
– Elon Musk (@elonmusk) 15 April 2021
Why it matters: DOGE rose to the 15-cent mark on Thursday, hitting an intraday high of $ 0.1425, but declined to $ 0.1381 at press time.
Dogecoin against US dollar. A sharp rise is noticed Thursday night in the wake of Musk’s latest DOGE tweets.
The crypto-currency traded 25.43% higher in a 24-hour period leading to print time and rose 125.65% on a seven-day basis.
The impact seems more pronounced in relation to Musk’s tweets on Wednesday, which apparently did not immediately change the Doge rate.
Dig deeper: Why is Dogecoin a good boy now?
Since the beginning of the year, the meme cryptocurrency has shot up 2 893.3%, which is significantly more than Bitcoin’s (BTC) 115.81% increase over the same period. BTC traded 2.04% lower at $ 62,840.98 at the time of going to press.
The latest rise in DOGE’s valuation is driven by a huge interest in social media, as the cryptocurrency tops the list of trends Twitter Inc’s (NASDAQ: TWTR) platform and Wednesday on Stocktwits.com.
Price action: Tesla shares closed nearly 4% lower at $ 732.23 on Wednesday.
Read the following: Currency market overcomes Apple – the world’s most valuable company – in capital capitalization
Photo by Play Your Place on Flickr
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